The Hashgraph Association, responsible for developing the Hedera blockchain, announced signing a partnership with the Qatar Financial Center to launch a $50 million digital asset venture studio, with the Association contributing 20% of the funds. The studio aims to support the development of regulatory compliant decentralized finance applications and digital assets on the Hedera blockchain.
This partnership is the second this year for the Hashgraph Association in the Arab region, following a previously signed $250 million partnership with the Saudi Ministry of Investment to launch a venture studio called DeepTech in Riyadh.
Over its five-year mission, the studio aims to support convergence between emerging technology sectors such as AI, the Internet of Things, blockchain, robotics, AR/VR, and quantum computing.
Last year, the Hashgraph Association signed another partnership with the Tunisian Dar Blockchain initiative, aimed at organizing a series of hackathons in Tunisia, North Africa, and the Arab region, as well as supporting developer communities in the region.
