Jibrel Network, a fintech firm that allows anyone to tokenize traditional real-world assets, has inked a memorandum of understanding (MoU) with Dubai-based blockchain platform ArabianChain.
Under the agreement, Jibrel will offer technical advisory services and support to ArabianChain that serves both public and private enterprises in the Middle East.
Jibrel said that its team – which has more than three decades of experience working in financial securities for leading management consultancies – is well placed to support ArabianChain’s engagement in the financial services sector, including many of the region’s major banks.
Jibrel Network project lead Yazan Barghuthi said: “Financial services in the MENA region have very specific compliance requirements that must be accommodated.
“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,” Barghuthi added.
ArabianChain founder and CEO Mohammed Alsehli said: “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. ”