29 firms register in Qatar Financial Digital Assets Lab

29 firms register in Qatar Financial Digital Assets Lab

Qatar Financial Centre (QFC) recently published that it witnessed record growth in 2024, welcoming 836 new firms to its platform, a 156 percent growth compared to 2023 as well as 29 firms into its Qatar Digital Assets Lab.

The upsurge brought the total number of QFC firms to 2,489 and the combined assets under management to over USD 33 billion. It also enlarged the QFC community to over 11,700 employees, representing 153 nationalities.

The firms registered in 2024 represent 90 countries, with the largest number of firms coming from the United Kingdom, India, the United States, Jordan, Turkiye, France, Lebanon, and Qatar. These firms span a wide range of activities and industries, including fintech, consulting services, media, IT, and wealth management.

QFC also signed 24 memoranda of understanding in 2024, including agreements with prestigious financial institutions such as Qatar Islamic Bank (QIB), Masraf Al Rayan, Dukhan Bank, The Hashgraph Association, and the Chartered Institute for Securities and Investment. QFC established other significant partnerships during the year, including a memorandum of understanding with Qatar Media City and a collaboration agreement with Qatar Science and Technology Park (QSTP), aimed at facilitating business setup in the State of Qatar

The Digital Assets Lab, which commenced activities with 29 participants, developing unique digital solutions and services based on distributed ledger technology (DLT). To support the program, QFC issued the Digital Assets Framework to regulate digital assets, which includes comprehensive and clear legal guidelines for digital assets creation and regulation, including processes related to tokenization, legal recognition of ownership rights of encryptions and underlying assets, custody arrangements, and transfer and exchange transactions. These initiatives align with the Qatar FinTech Strategy and reinforce the country’s position as a regional leader in financial innovation.

Commenting on the QFC 2024 performance, CEO of QFC Yousuf Mohamed Al Jaida said, “The exceptional growth witnessed by the Qatar Financial Centre in 2024 reflects our commitment to provide a developed and attractive business environment for local and international companies. These achievements would not have been possible without the concerted efforts of all business units, along with close cooperation with our clients, key stakeholders in Qatar and our strategic local and global partners. Over the past year, we have continued to enhance innovation and support economic growth and diversification in Qatar, and we aim to achieve more successes in the coming years.”

Nexera RWA tokenization platform interested in Qatar

Nexera RWA tokenization platform interested in Qatar

Nexera an infrastructure designed to enable the smooth integration of real-world assets into the digital space recently presented their solutions in Qatar at the Qatar Digital Assets Lab.

They have made trillions of dollars in tokenized assets accessible, transferable, and liquid across web3 by connecting platforms and marketplaces across multiple blockchains.

The company announced that so far in December it visited Qatar Digital Assets Lab to showcase their advanced real world assets tokenization solutions meeting with key players in the ecosystem. Their CEO and Founder Ajaja Rachid presented their real estate tokenization solutions there.

Nexera also recently partnered with modular blockchain powerhouse NULS. With over 1M+ cross-chain transactions, $NULS brings the firepower, and $NXRA opens the gateway to $100T+ in RWA tokenization.

Nexera’s founder and CEO, Rachid Ajaja, shared insights on the synergy between AI agents and tokenization. This is a must-read for anyone following the intersection of blockchain and AI.

The company has also participated at the Plug and Play Tech Center Türkiye Expo 2024, Rachid presented “Scaling AI Infrastructure Through Tokenization,” showcasing the potential of AI and blockchain convergence.

In addition the company joined forces with Bitlayer, bringing tokenization infrastructure to Bitcoin. Bitlayer, an EVM-compatible Bitcoin L2, combines Bitcoin’s security with Ethereum’s flexibility.

More and more DLT, Blockchain entities are entering Qatar Digital Assets Lab.

For example Indian headquartered, Ryzer a blockchain-based (Token Service Provider) real estate investment platform, has been accepted into Qatar Digital Labs within the Qatar Financial Centre (QFC) digital asset tokenization regulatory framework

In addition to others such as Singaporean Blockchain fintech company DMZ Finance which has been chosen by Qatar QFC as well as Blade Labs which tokenizes financial productions and services.