Instimatch Fintech Company, an R3 Corda partner opens MENA headquarters in Qatar
Instimatch, a Swiss Fintech company that has established a Distributed Ledger Technology based platform for conducting money market trades, announced on its website recently that it has opened its regional MENA headquarters in Qatar Financial Center Authority. Mr. Daniel Sandmeier Chief Executive Officer of Instimatch stated, “We are extremely proud to finally announce our collaboration and an honor to be part of their business community and we look forward to expanding Instimatch Digital Network in the Middle East Region.
In a video conversation with Mr. Sadiq Hamour of QFC, Daniel explains the offering that Instimatch will be presenting in the region. He states, “Instimatch will offer cloud based cash deposit trading platform that connects treasurers across different industries, geographies and markets. We hope to increase the liquidity market, borrowing and lending market efficiently on the platform and help to grow and trade liquidity with large banks, family offices, corporate treasurers, sovereign wealth funds.”
Instimatch digital network enables a global community of institutional borrowers and lenders to make valuable trading connections and put liquidity to work. Clients using their network include banks, corporations, pension funds, asset manager, family offices, insurance companies and municipalities
Sandmeier adds, “Our presence in Qatar is a starting point and a primary base for operations across the whole MENA region. We chose Qatar because of its sophisticated infrastructure, strong corporate network, the strong banking relationship with our home base in Switzerland, in addition to Qatar’s drive to help Fintech sector.” Sandmeier also mentions that the company will be working on solutions for digital tokenized money market funds for the region as well as launching their Islamic Banking compliant solution
Henk J Hoogendoorn, Managing Director, Financial Sector, QFC Authority, said: “The QFC is committed to the growth of Qatar’s financial services industry encompassing FinTech, Islamic Finance, Capital Markets and Asset Management. FinTech companies are profoundly changing the way business is conducted in the financial services sector and Instimatch Global is one such company, ushering in services that are more efficient and cost-effective. The launch of this fintech disrupter in Qatar is a welcome addition to the 839 firms currently registered on the QFC platform, and an important development in establishing Qatar as the region’s FinTech hub.”
According to an article in SwissInfo, Qatar’s Masraf Al Rayan and Ahli banks are among the 80-plus entities signed up by Instimatch, along with Kuwait’s Gulf Bank. Instimatch platform will allow the exchange of funds in less than 24 hours, allowing institutional clients to do intraday trading with a fully integrated system from trade to settlement in minutes. This is all done on Distributed Ledger Technology R3 Corda platform. In addition Instimatch offers real-time Software-as-a-Service solutions to verify business and user identity, prevent fraud and money laundering, and bring full regulatory compliance. All data are securely stored on the blockchain for dynamic reporting.
