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POS Blockchain Hedera recently announced a groundbreaking five-year partnership with the Saudi Investment Ministry worth $250 million. Concurrently, Hashgraph launched the DeepTech Venture Studio poised to create a revolution in the technological landscape of local Saudi companies. Hashgraph, a nonprofit organization dedicated to advancing educational initiatives, stands at the forefront of this transformative journey.
Empowering Saudi Companies with DeepTech Venture Studio
DeepTech Venture Studio is set to redefine the technological trajectory of Saudi Arabia. Designed to empower both local businesses and international firms looking to capitalize on opportunities in the Kingdom, this initiative promises to enhance innovation across various sectors.
The Studio aims to lead groundbreaking solutions that will transport businesses into the future, utilizing the latest technologies such as artificial intelligence, Blockchain, robotics coding, the Internet of Things (IoT), virtual reality (VR), and quantum computing.
Fintech Saudi & Kyndryl: Pioneering Financial Innovation
Fintech Saudi and Kyndryl have joined forces in a strategic collaboration aimed at promoting technological innovation in the financial services sector. The memorandum of understanding signed in Riyadh on December 27, 2023, signifies a significant turning point in the fintech world of Saudi Arabia.
This partnership represents a significant step in advancing the adoption of technology among fintech entrepreneurs and startups in the region. With Kyndryl’s expertise in IT infrastructure services complementing Fintech Saudi’s visionary approach, the groundwork is laid for transformative developments in the fintech ecosystem.
This synergistic alliance not only underscores the growing importance of fintech in Saudi Arabia but also highlights the country’s commitment to fostering innovation in the financial sector. As Saudi Arabia strives to position itself as a leading fintech hub, collaborations like these pave the way for accelerated growth and development.
Driving Innovation Forward
As Saudi Arabia embarks on a journey towards technological excellence, collaborations and partnerships serve as the cornerstone of progress. Initiatives like the DeepTech Venture Studio and strategic alliances among industry leaders are setting the stage for the Kingdom to unlock a new era of innovation and prosperity.
Saudi Arabia, demonstrating a determined stance to push technological boundaries, appears to be stepping towards a brighter and more interconnected future. Following the development, Hedera’s price saw a 10% increase, with HBAR trading at $0.0762.
