SettleMint, a blockchain company that enables enterprises to easily and rapidly build and integrate blockchain applications, which was accepted into the Qatar Financial Center (QFC) Digital Assets Lab, has successfully piloted the tokenization of private shares of QFC.

In a LinkedIn post, Henk Jan Hoogendoorn, Chief of Financial Services Sector at Qatar Financial Centre (QFC) Authority, stated, ” Thank you Matthew Van Niekerk and team for the successful pilot of the private share tokenization of QFC. We call upon the Financial Sector to find more use cases tokenization in Qatar.”

In November 2023, Henk had noted that QFC and SettleMint would be tokenizing the private shares and equity for companies in Qatar. He had stated at the time, “ Next steps on tokenization of private shares / Private Equity discussed with our digital asset lab partner SettleMint both for Qatar Financial Centre (QFC) Authority and any investment manager that would that would like to tokenize or fractionalize investments.”

In April 2023, Qatar Financial Centre Authority (QFCA) signed its second Blockchain MOU with Settlemint, after signing its first with R3. The agreement with Settlemint aimed to work on Blockchain and digital asset initiatives in the financial sector. QFCA and Settlemint agreed 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.

QFC ( Qatar Financial Center) also played an instrumental role in the recent collaboration and partnership of two DLT entities, The Hashgraph Group, a Swiss-based international business, venture capital and technology company, and SettleMint a blockchain transformation company. The partnership seeks to accelerate the impact of DLT ( Distributed Ledger Technologies) and digital assets across several industries.