Saudi Islamic Development Bank Institute (IsDBI) is collaborating with the blockchain entity SettleMint to develop a Smart Stabilization System (SSS), an algorithm that aims to maintain the stability of assets traded on organized markets, including financial assets or digital currencies. SettleMint has more than 60 Enterprise blockchain implementations worldwide. It offers a full-fledged Blockchain-Platform-as-a-Service solution. IsDBI, as the knowledge beacon of the IsDB Group, leads the development of knowledge-based solutions. The Institute has already secured patents for its three innovative fintech mechanisms with great potential for the financial industry. The objective of the SSS is to help stabilize organized asset markets without compromising efficiency. This is done by managing the gap between supply and demand to reduce the volatility of the price while maintaining the role of the gap in equilibrating the market. The patent-pending Smart Stabilization Syst...

Once again the Qatar Financial Centre Authority (QFCA) financial business center is on a sprint run with Blockchain, first with its MOU signed with Blockchain solution provider R3 and now with its MOU signed Blockchain SettleMint platform. The agreement with Settlemint will also as with R3 work on Blockchain and digital asset initiatives in the financial sector.  The MoU aims to explore potential synergies with industry participants, including financial institutions, fintech firms, and corporate organisations, to accelerate the adoption of blockchain and digital asset business models and solutions. Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, stated "We are delighted to collaborate with SettleMint Blockchain LTD to explore use cases of blockchain technology and digital assets in Qatar's financial industry. This partnership reflects the QFC's commitment to supporting innovation and identifying new opportunities that benefit our stakeholders and Qatar's wider f...