DIFC reaffirms commitment to advancing fintech

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has reaffirmed DIFC’s commitment to Asian FinTech partnerships and advancing the Centre’s FinTech ecosystem.

DIFC has signed a Memorandum of Understanding (MOU) with Tribe Accelerator, the first Singapore government supported Blockchain accelerator, to collaborate on knowledge sharing and to partner during joint events. The agreement follows DIFC Authority and DIFC FinTech Hive’s recent participation during the Singapore FinTech Festival, the largest financial technology event in the world, boosting DIFC’s profile within the region and generating ongoing business development opportunities.

DIFC and Tribe Accelerator also partnered on the first Dubai edition of the Tribe Demo Day in December 2019 which showcased nine growth-stage companies with compelling use cases utilising blockchain technology, ranging from Series A - Post-IPO across verticals such as Media & Advertising, Data, FinTech, Healthcare, Supply Chain and Trade Finance, ranging from Series A and beyond.

DIFC’s dynamic FinTech ecosystem has more than 100 FinTech companies in the Centre, reflecting a three-fold growth in registered FinTech firms since the end of 2018, intimating a sharp rise in 2019 as leading international and regional FinTech companies choose the DIFC as their preferred jurisdiction from which to scale their business in the region. Long-term strategies are in place to attract and retain key players and investors to the financial services sector and the DIFC’s thriving FinTech community benefits from the strong relationships the Centre has built with key international accelerators through ongoing delegations, strategic agreements and mutually beneficial partnerships with key global financial centres.


Source: albawaba.com