Qatar Financial Centre activates Digital Assets Lab

The Qatar Financial Centre (QFC) has launched its Digital Assets Lab, bringing together 24 participants to develop new digital solutions using distributed ledger technology (DLT). 

Announced on September 14, this initiative marks a step toward exploring digital assets and fostering innovation in various sectors. 

Key partners supporting the lab include Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3.

The Digital Assets Lab aims to support digital transformation by providing resources and guidance to its selected participants. 

Among the 24 participants are companies such as ALT Realtech, Bladelabs, Polygon, and Partior, who will use DLT to address specific industry challenges and drive new approaches in areas like trade finance, real-world asset tokenisation, and carbon credit tokenisation.

To enhance the lab's scope, QFC has collaborated with international organisations. 

Google Cloud will offer cloud infrastructure and analytics support, while Masraf Al Rayan, The Hashgraph Association, and R3 will provide industry knowledge to assist participants in developing their digital solutions.

Yousuf Mohamed Al-Jaida, CEO of QFC, commented on the initiative: "I am delighted that the Digital Assets Lab has officially commenced, with 24 participants working on technologies with different applications. 

Their collective effort and expertise will be pivotal in advancing digital asset solutions across multiple industries. 

The technologies we aim to develop through the Lab will support our goal of creating a resilient and secure financial sector, fostering a thriving wealth management hub, and positioning Qatar at the forefront of innovation."

Launched in October 2023, the Digital Assets Lab is part of QFC’s effort to explore new digital asset applications. 

The lab operates under the QFC Digital Assets Framework, which is designed to ensure a secure and transparent environment for developing digital asset solutions.