QFCA & Settlemint unite to hasten blockchain adoption in financial sector

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
QFCA & Mastercard sign MoU

Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), has signed a Memorandum of Understanding (MoU) with SettleMint, a trusted blockchain technology platform, in order to collaborate on blockchain and digital asset initiatives in the financial industry.

The MoU intends to explore potential synergies with industry participants, including financial institutions, fintech firms, and corporate organizations, to accelerate the adoption of blockchain and digital asset business models and solutions.

Through the collaboration, the QFC and SettleMint will help business entities in Qatar’s financial sector innovate and develop a safer and more efficient way of doing business.

Yousuf Mohamed al-Jaida
Yousuf Mohamed al-Jaida
CEO – QFC Authority

“We are delighted to collaborate with SettleMint Blockchain LTD to explore use cases of blockchain technology and digital assets in Qatar’s financial industry. This partnership reflects the QFC’s commitment to supporting innovation and identifying new opportunities that benefit our stakeholders and Qatar’s wider financial ecosystem. To that end, we look forward to future joint initiatives with SettleMint.”

Commenting on the MoU, Mr. Matthew Van Niekerk, Founder & CEO, SettleMint, said that, “At SettleMint, we are passionate about empowering developers to easily build on web3 infrastructure and enabling companies to unleash the full potential of blockchain technology for their clients and the ecosystems in which they operate.”

“SettleMint has been supporting the financial industry for several years from experimentation to the production application. We are thrilled to partner with the QFC and leverage their expertise and network to drive blockchain adoption and innovation in Qatar’s financial sector,” the SettleMint CEO added.

Related: QFCA signs MoU with R3 to accelerate Qatar’s fintech industry growth