The Switzerland-based non-profit organization Hashgraph Association has inked a strategic deal with Blade Labs to accelerate a financial revolution in the Middle East.
According to the press release, the partnership will bolster digital transformation by bringing distributed ledger technologies to traditional finance.
The Qatar Financial Center-certified Blade Labs will deploy Sharia-compliant securities platforms designed to enhance collateral management, improve liquidity, and reduce businesses’ operational costs through fund tokenization.
That will bolster capital efficiency and ensure advanced risk management for heightened returns, making it beneficial to tech-savvy and traditional investors.
Hashgraph President Kamal Youssefi affirmed the organization’s dedication to advancing the financial sector in the Middle East.
He recognized Blade Labs as a leading fintech firm in the region and its role in ensuring compliance.
Blade Labs CEO Sami Mian stated,
“As an investor and strategic ecosystem partner of Blade Labs, The Hashgraph Association’s deep multi-level relationship will enable us to integrate our cutting-edge digital asset solutions with more businesses in the Middle East and beyond. We are also well placed to support the execution of strategic initiatives in the region to grow and empower ecosystems that will help us drive digital transformation.”
Hashgraph Association in the Middle East
The organization has made various moves in the region. The Hashgraph Association was recently (in May) involved in launching government-supported venture studios.
The $50 million initiative aims to develop state-of-the-art DeFi solutions in the region.
Before that, the organization collaborated with the Saudi Arabian régime to launch a deep-tech venture workshop.
Crypto adoption in the Middle East
The Middle East is among the hotspots for digital asset adoption. The latest Bitget Research report shows the region saw average crypto traders surging to 500K in 2024.
That represented a staggering 166% increase within a year, and the upward trend will likely continue.
Various factors drive cryptocurrency adoption in the Middle East, with the anticipated bull rally, favorable regulations, and ongoing global acceptance fueling the narrative.
In conclusion, the Hashgraph Association continues to make strategic moves in the Middle East.
It has collaborated with Saudi Arabia’s Ministry of Investment to launch a $250M deep-tech studio in Riyadh.
Moreover, the Hashgraph Association partnered with the Qatar Financial Center to set up a $50M Digital Assets studio in Doha.
The Hashgraph Association looks to capitalize on the flourishing crypto market in the Middle East with licensed services.
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