Hacken joins Qatar’s digital assets lab for blockchain security

Hacken joins Qatar’s digital assets lab for blockchain security

Hacken, the Blockchain Security Auditor has announced that it has joined the Qatar Financial Authority Digital Assets Lab as a partner.


Founded in 2017, Hacken offers comprehensive security services, including smart contract audits, penetration testing, bug bounty programs, and post-deployment monitoring, combining expertise and battle-tested methodologies to protect Web3 projects globally.

As per the Linkedin post, ” This forward-thinking initiative is shaping the future of digital assets and DLT by fostering innovation and collaboration. Hacken is contributing with our expertise in smart contract & protocol security, post-deployment monitoring & bug bounties and cybersecurity tailored for regulated frameworks.”

Hacken adds in their post that they are working to drive safer, innovative solutions in the digital asset space.

Qatar Digital Assets Labs partners with various entities in Blockchain arena

Singaporean Blockchain fintech company DMZ Finance was also chosen by Qatar QFC Digital Assets Lab, and also is working with partners that include R3, The Hashgraph Association, Taurus and SettleMint among others.

Hacken also partnered in 2024 with UAE ADGM

In April 2024, Abu Dhabi Global Market (ADGM) and Hacken, also signed a Memorandum of Understanding (MoU) to collaboratively set new benchmarks for blockchain security and compliance. Under the MoU, ADGM’s Registration Authority (RA) would collaborate with Hacken on developing security standards and on-chain monitoring solutions in relation to ADGM’s DLT Foundations framework, positioning both organizations at the forefront of fostering a secure blockchain ecosystem.

Later on Hacken forged a strategic alliance with Klumi Ventures, recently regulated Web3 venture capital firm based in Abu Dhabi Global Market (ADGM). As per the press release the partnership would establish new benchmarks in blockchain security and compliance, capitalizing on the formidable security expertise of Hacken and the financial licensing of Klumi Ventures in UAE.

UAE regulated stablecoin, AEcoin sponsors Qatar UAE SuperCup

UAE regulated stablecoin, AEcoin sponsors Qatar UAE SuperCup

UAE’s first regulated stablecoin by the Central Bank of UAE, AEcoin has announced the sponsorship of the Qatar UAE SuperCup. The Qatar-UAE Super Cup football Cup, will have distinct competitions that are set to ignite the passion of football fans from January 16 to 19. The event will bring together 8 elite teams to compete in intense matches across the Challenge Shield, Super Cup, Super Shield, and Challenge Cup categories.

On Thursday, January 16, the opening match kicked off in Doha, pitting Al Rayyan, runner-up in the Ooredoo Stars League, against Shabab Al Ahli, the ADNOC Professional League runner-up.
On Friday, January 17, in Dubai, Qatar SC, the Amir Cup runner-up, will go head-to-head with Al Nasr, the UAE President’s Cup runner-up.
Reigning Ooredoo Stars League champions Al Sadd will take on Al Wasl, winners of the ADNOC Professional League on January 18 in Doha.
The grand finale is set to take place in Abu Dhabi on the 19th, with Al Wakrah, the Qatar Cup champions battling it out with Al Wahda, the Abu Dhabi Islamic Bank Cup champions.

AECoin joins the ranks of Visit Qatar and RedBull as one of the many sponsors. The AE Coin promises an instant, secure, stable, innovative, low-cost, and efficient payment experience that will reshape the future of the digital economy.

Mbank was the first bank to be offering the AE Coin licensed stablecoin available on its AEC Wallet. Through AEC Wallet, powered by Mbank, customers will be able to purchase AE Coin and make secure, stable virtual financial transactions. In line with the Central Bank of the UAE’s digital payment token services framework and the government’s future-oriented vision.

QFC brings blockchain firms together to spur DLT globally

QFC brings blockchain firms together to spur DLT globally

QFC ( Qatar Financial Center) has 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.

As per QFC press release this partnerships aims to make DLT more accessible for organisations worldwide and drive their adoption on a global scale. In September 2024, the Lab launched its inaugural cohort, comprising 29 innovators, with the goal of providing them with a comprehensive ecosystem to develop, test, and commercialise cutting-edge solutions addressing industry needs and challenges through digital assets and distributed ledger technologies.

The Lab was established to foster collaboration among start-ups, businesses, and researchers to develop innovative solutions, products, and services in digital assets and distributed ledger technologies. The partnership between SettleMint and THA marks a milestone for the Lab, highlighting its potential to shape the industry and contribute significantly to the Qatari market.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the partnership stating, “This partnership between SettleMint and The Hashgraph Group is a testament to the QFC Digital Assets Lab’s success in fostering collaboration and driving innovation. By facilitating partnerships like this, the Lab strengthens Qatar’s position as a leader in emerging technologies while contributing to a more dynamic and diversified economy.”

Kamal Youssefi, President, The Hashgraph Association (THA), added, “The cornerstone of our strategy at THA is strategic partnerships. Our ultimate aim is to empower a thriving community and build up a vibrant Web3 ecosystem that leverages Hedera platform capabilities. We are excited to partner with innovative organisations to co-create value and contribute towards building an empowered digital future. THA strongly believes in QFC’s vision, and it is strategy to institutionalise Digital Assets and establish Qatar as a leading regional hub for innovative web3 solutions covering Asset Tokenization, Digital Assets, DeFi and Onchain Finance, and we look forward to working with SettleMint and other ecosystem partners to contribute towards Qatar’s 2030 Digital strategic goals.”

Stefan Deiss, Founder and CEO of The Hashgraph Group, noted, “We’re thrilled to be both investing in and partnering with SettleMint as we work to integrate Hedera-powered applications for enterprises and organizations in Qatar and globally. The future of Web3 solutions will include the tokenization of Real-World Assets, and the combined forces of Hedera’s energy-efficient DLT platform with SettleMint and the futuristic ecosystem at QFC’s Digital Assets Lab will empower enterprises and governments towards a digital economy.

Matthew Van Niekerk, Chief Executive Officer, SettleMint, commented, “The QFC Digital Assets Lab is building a powerful ecosystem that fosters meaningful partnerships, lasting collaborations, and the next generation of digital asset solutions in the region and beyond. This investment and strategic partnership highlight the Lab’s effectiveness in bringing together industry-leading companies to drive impactful outcomes.”

Qatar Fintech Hub advance digital assets startups in acceleration program

Qatar Fintech Hub advance digital assets startups in acceleration program

Qatar Fintech Hub announced that Fintech and digital startups from 7countries showcased their solutions during the Demo Day which is the final milestone of the Wave 6 Incubation & Acceleration Program. These startups have advanced through the flagship program to develop their innovative solutions in line with the National FinTech Strategy focusing on two key themes of Islamic FinTech and Digital Assets.

The startups include names such as Alt DRX a B2B real Estate Marketplace for Indians to buy & sell tokenized properties 1 SQFT at a time; powered by algorithmic pricing, instant settlements & Blockchain ledgers.

The second startup to be pitching is ARCA X LLC which is building the bridge between Centralized Finance (CeFi) & Decentralized Finance (DeFi) Through Hard-Blockchain (HBC)™ our proprietary blockchain hardware infrastructure & software end-to-end solution.

The third is Blade Labs which combines AI, blockchain, and smart contracts to help financial institutions deploy Shariah-compliant capital more efficiently. Our embedded Islamic finance platform automates compliance, enhances transparency, and reduces processing time from weeks to minutes, providing secure and scalable solutions for the $3.9T Islamic finance market.

Also pitching is Credit Plus which is empowering SMEs by providing innovative supply chain finance solutions that enhance cash flow, promote financial inclusion, and drive economic growth, with a vision to be the leading digital platform for seamless collaboration between banks, buyers, and suppliers across the MENA region.

Other startups include

Dhahaby facilitates loans against gold, gold jewellery and luxury timepieces removing the friction in collateralized lending for borrowers and lenders.

Ehmini is a digital platform offering embedded Takaful insurance solutions tailored for low and middle income expatriates in Qatar and the GCC. We simplify access to affordable retirement and insurance products by integrating seamlessly with financial institutions and payment platforms.

Finrock is a B2B platform allowing any asset to be identified, verified, and transferred to the blockchain unlocking liquidity and creating a secondary market.

GreenVycto, which is a Carbon Credit Tokenization platform designed to accelerate sustainability through incentivizing eco-friendly actions and supporting a green economy.

Hemaayah is an Insuretech platform bringing insurance protection to 30 Million GCC employed blue-collar workers. Their remittance linked insurance product provides health and income protection benefit to 150 Million family members of migrant workers.

Kredflo is a Shariah-compliant anchor led supply chain finance which enhances cash flow for anchors/sellers by offering immediate payments, while providing buyers/borrowers with a cost-free credit line.

Sidra a tokenisation infrastructure service provider and finally Wafir which transforms traditional lending circles into a modern, digital experience, ensuring secure, transparent, and efficient community financing.

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.

Sidra Chain gets accepted into Qatar’s digital assets Lab

Sidra Chain gets accepted into Qatar’s digital assets Lab

SIDRA and its SIFRA Chain have been accepted into The Qatar Financial Centre (QFC) digital assets Lab. In an X post, Engineer Hossam Shaaban noted that QFC has made significant strides in its mission to foster a thriving digital assets ecosystem.

He stated, “The recent announcement of 24 innovative firms joining the inaugural QFC Digital Assets Lab marks a pivotal moment in this journey. Among these pioneering companies, SIDRA and SIDRA Chain stand out as prominent players, showcasing the potential of Qatar to become a global hub for blockchain technology.”

SIDRA, develops blockchain solutions. Its subsidiary, SIDRA Chain, offers a comprehensive suite of blockchain-based products and services, including tokenization, BaaS, and supply chain solutions.



The 24 participants in the Lab represent a diverse range of sectors, including finance, real estate, and supply chain management. Their innovative solutions have the potential to revolutionize the way we conduct business, improve transparency, and enhance efficiency.

Since the launch of the QFC Digital assets Lab, more than 24 startups have been accepted, including Ripple backed Ryzer Blockchain, DMZ Finance and more.

Digital asset custodian, Zodia Custody interested in expanding to UAE and Qatar

Digital asset custodian, Zodia Custody interested in expanding to UAE and Qatar

Zodia Custody, backed by Standard Chartered Bank has shown interest in offering its services not only in the UAE but in Qatar as well.

Recently, Gerry Afentakis, Head of Europe & MENA Sales at Zodia Custody visited the Qatar Development Bank along with members from the Qatar Financial Authority.

Hani Khateeb, Fintech Specialist Advisor of Qatar Fintech Hub at the Qatar Development Bank noted on LinkedIn, “Today, we had the pleasure of hosting Zodia Custody and Qatar Financial Centre (QFC) Authority at Qatar Development Bank offices. We were joined by Gerry Afentakis from Zodia, who shared their latest achievements, milestones, and provided valuable insights into their role in the institutional digital asset custodianship market globally.”

He added, “It was especially impressive to learn about their shareholder and list of banking customer in both the MENA region and internationally. During our discussions, we explored potential collaborations in the exciting world of digital assets here in Qatar aligning with existing frameworks and future plans for paving the way for this new technology to flourish within Qatar’s financial sector.”

The visit of Zodia Custody’s Head of Europe and MENA Sales executive, comes after Qatar launched its digital assets framework, and DLT framework. Qatar’s digital assets regulation allows for the tokenization of real-world asset, excluding cryptocurrencies and stablecoins.

The Qatar Digital Assets Lab was also created to develop tokenization platforms for tangible and intangible assets including real estate assets, securities, Sukuk, bonds and others in the future utilizing DLT (distributed ledger technologies), blockchain, and smart contracts.

Moreover, the framework also allows for tokens and token custodians, exchanges, transfer providers and validators, as well as token issuers.

As per the framework, “Token custody services mean holding or controlling tokens on behalf of clients; or holding or controlling the means by which clients’ tokens may be recorded and transacted on token infrastructure. A company that holds or safeguards the private keys for its clients’ tokens is providing custody services in relation to those tokens. An entity licensed to provide token custody services may be referred to as a token custodian.”

This could be why Zodia Custody is now interested in visiting QFC after it started its journey in the UAE. Replying to Khateeb, Afentakis stated on LinkedIn, “Thank you, Qatar Development Bank, and your exceptional colleagues (Mayssa Mrabet & Kevin) for the wonderfully warm Qatari hospitality and for such an astute and fruitful discussion. So much to look forward to.”

Replying to Lara on the Block, Afentakis in a message noted, “We are very much exploring Qatar, and will be setting up in UAE in both VARA and ADGM in Q1 of 2025.”

In 2023, Standard Chartered’s backed digital asset platform, Zodia markets, received an In-Principal Approval (IPA) fulfilling the pre-requisites to receive a Financial Services Permission (FSP) for OTC broker-dealer in virtual assets by Abu Dhabi Global Market (ADGM), Abu Dhabi’s international financial center.

Zodia Markets chose to expand into the UAE as the region establishes itself as a rapidly emerging hub for digital assets. The strategic expansion provides institutional investors from the Middle East and Africa with reliable access to this growing, alternative asset class, consolidating Zodia Markets’ position as an integral part of the global digital asset landscape.

In an article on Zodia Custody website they note that with all the growth being witnessed in UAE and GCC region in terms of blockchain and digital assets businesses, the banking sector has sometimes been tentative in embracing the crypto industry. The article states, “With crypto firms situated there reporting that they still struggle to access banking services. This hurdle is now starting to be removed as some players are beginning to offer digital asset-friendly services. Major financial institutions are also requesting proposals and seeking providers for virtual asset services.”

This is why a year ago, UAE based Standard Chartered signed a memorandum of understanding (MoU) with Dubai International Financial Centre (DIFC) to collaborate on digital assets, including digital asset custody through its Zodia Custody entity. At the time Standard Chartered noted that its new services would be powered by its subsidiary Zodia Custody.

In 2024, Brevan Howard became the first client for Standard Chartered regulated crypto custody service out of DIFC. DIFC (Dubai International Financial center) regulator DFSA.

Taurus in Qatar is offering digital asset, crypto and tokenized securities solutions

Taurus in Qatar is offering digital asset, crypto and tokenized securities solutions

Taurus announced its strategic partnership with the Qatar Financial Centre (QFC) Authority as part of the QFC Digital Assets Lab which will allow it to serve banks and financial institutions across Qatar and MENA by delivering enterprise technology from digital assets, to crypto to tokenized securities.

As per the press release, the QFC Digital Assets Lab is a key initiative within the QFC Innovation Dome, which is designed to accelerate innovation in digital assets and Distributed Ledger Technology (DLT). By fostering collaboration between businesses, start-ups, and researchers, the lab aims to position Qatar “as a leader in the digital economy, guided by the newly introduced QFC Digital Assets Regulatory Framework 2024.”

The framework sets rigorous standards for tokenization, legal recognition of digital assets, and the use of smart contracts, ensuring the highest levels of security and transparency. As a digital asset infrastructure provider, Taurus provides secure and scalable solutions for the custody, tokenization, and management of digital assets.

Through the QFC Digital Assets Lab, financial institutions in the region will now have access to Taurus’ enterprise-grade technology, which supports the full range of digital assets, from cryptocurrencies to tokenized securities.

Bashir Kazour, Managing Director at Taurus, commented, “The QFC Digital Assets Lab offers a robust regulatory environment, making Qatar a prime location for digital asset innovation. We are pleased to bring our expertise in digital asset management to this dynamic market and better serve our clients and partners across the Middle East.”

Taurus SA is a Swiss Fintech founded in April 2018, provides enterprise-grade digital asset infrastructure to issue, custody, and trade any digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies.

Depending on their business model, strategy, and risk tolerance, Taurus’ clients can seamlessly manage cryptocurrencies “including staking, digitize and tokenize any type of asset on any standard end-to-end, and process digital currencies of their choice.”

Taurus’ product portfolio is composed of  Taurus-PROTECT, the leading secure storage solution in Europe which is currently used by more than 30 financial institutions and corporations. Taurus-CAPITAL allows clients to issue and “manage tokenized assets on public and permissioned blockchains, as well as interact with any smart contract.

Both The Hashgraph Association as well as R3 also announced their partnerships with QFC digital assets lab and their offering.

R3 to power tokenization projects in Qatar’s Digital Assets Lab

R3 to power tokenization projects in Qatar’s Digital Assets Lab

R3 which is a partner within the Qatar Financial Centre (QFC) Authority as part of the QFC Digital Assets Lab has announced that it will power tokenization projects across Qatar’s financial industry.

As per a Linkedin post, “This initiative signals Qatar’s bold ambition to become a leading innovator in the rapidly evolving landscape of digital assets. The Digital Assets Lab will be a hub for collaboration and innovation and provide a platform for transforming digital concepts into practical, industry-ready technologies.

R3 Founder and CEO, David E Rutter said, “Over the last year, R3 and QFC’s joint working groups have explored emerging regulatory paradigms and illustrated the benefit of nationally deploying DLT technology. We are honored that QFC Lab has chosen R3 as its trusted digital infrastructure provider. The QFC Digital Assets Lab enables participants, such as corporations, banks, and buy-side firms to explore use cases from proof of value to full production validation on Corda. As the base product for the QFC ecosystem, R3’s Corda will power tokenization projects across Qatar’s financial industry, supporting the issuance, transfer, and redemption of digital assets.”

R3 notes that it will continue to support the robust digital assets ecosystem in Qatar and building the digital financial markets.

R3 has been working with governments and banks across the GCC region on CBDC projects as well, including the UAE and KSA.

UAE Fintech firm Xalts partners with Avalanche for tokenization of RWAs

UAE Fintech firm Xalts partners with Avalanche for tokenization of RWAs

Xalts, a UAE based Fintech firm specializing in tokenization, has announced its collaboration with Avalanche to bring more enterprise-grade real world asset tokenization solutions for institutions. Xalts has also recently joined the Qatar Financial Center’s digital assets lab for tokenizing real world assets.

As per the press release, this will provide out-of-the-box solutions to enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenization, and smart contract applications for different use cases such as the tokenization of funds, securities, commodities and trade finance assets, digital currencies, and CDBCs.

Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, Blockchains, and Orchestration layers. Its product suite includes solutions such as the RWA Cloud platform, which enables large institutions such as financial services and governments to quickly build complex solutions on blockchains.

RWA Cloud addresses challenges enterprises and regulators face while implementing blockchain, such as retaining complex rules, workflows, processes, and user compliances mandated by internal or regulatory governance.

With this collaboration, financial institutions can deploy custom blockchain networks that meet specific financial requirements and comply with local regulations using Avalanche’s L1 technology, orchestrate and automate their on-chain processes, tokenize digital assets and liabilities on the blockchain via smart workflows using Xalts’ RWA Cloud.

“Our collaboration with Xalts enables us to jointly offer RWA tokenization technology infrastructure and solutions to financial services institutions, including banks, asset managers, and fintechs alike”, said Morgan Krupetsky, Head of Institutions & Capital Markets at Ava Labs.

Xalts recently joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab to test and commercialize use cases in real-world asset tokenization.

“We are very excited to partner with Avalanche. This will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases”, said Ashutosh Goel, Chief Executive Officer, Xalts.

“We have an exciting roadmap ahead of us with Xalts as we jointly enable financial institutions across markets in their RWA tokenization journey!”, said Devika Mittal, Regional Head at Ava Labs.