Jibrel Network Signs Deal with ArabianChainbr>
FinTech firm Jibrel Network has teamed with Dubai-based blockchain startup ArabianChain to provide technical advisory services.
Founded this year, Jibrel Network allows anyone to tokenize traditional real-world assets. The company facilitates institutional grade liquidity to flow into the crypto economy in the form of cash and money market-backed tokens. That allows decentralized autonomous organizations and funds to diversify their crypto-holdings into more stable assets.
Founded in UAE and with operations in Saudi Arabia and Kuwait, ArabianChain blockchain technology enables governments, businesses, and individuals to use the ArabianChain tools and languages and build their transactions and contracts on the ArabianChain platform.
Under terms of a Memorandum of Understanding (MoU), Jibrel will provide technical advisory services and support to ArabianChain. Jibrel said that its team, with over 30 years experience working in financial securities for leading management consultancies, is well-positioned to support ArabianChain’s engagement in the financial services sector, including many of the region’s leading banks.
“The Middle East is transforming into an innovation-focused market, spearheading a pivotal change with its technology-first approach,” said ArabianChain founder and CEO Mohammed Alsehli. “We are extremely delighted to enter into this partnership with Jibrel Network to accelerate the adoption of our smart contract platform in the region. Blockchain has the potential to transform banking as we know it, and with Jibrel Network’s support, we aim to help the region propel further in achieving its innovation agenda, especially in the banking and financial services sector. ”
“Financial services in the MENA region have very specific compliance requirements that must be accommodated,” said Yazan Barghuthi, project lead at Jibrel Network. “Development and deployment of blockchain technology that ensures on-chain compliance is a particular competency for our team, and one that we leveraged in the development of our own platform.”