FINTECH PLATFORM TO HELP TEST NEW IDEAS

Maqta Gateway and Abu Dhabi Global Market have signed an MOU to collaborate on innovation projects, technologies and knowledge transfer. Credit: Abu Dhabi Global Market

Abu Dhabi Ports subsidiary Maqta Gateway and Abu Dhabi Global Market have partnered to launch a creative platform for FinTech innovator firms to develop and test new solutions.

The Memorandum of Understanding (MoU) to collaborate on innovation projects, technologies and knowledge transfer aims to spur economic growth, creative thinking and entrepreneurism through the new platform, from which FinTech innovator firms can test and launch products, services and business solutions within a regulated environment.

Dr Noura Al Dhaheri, CEO of Maqta Gateway, commented: “Through combining our respective resources and expertise, ADGM and Maqta Gateway will better be able to support entrepreneurs and innovators studying and developing emerging technologies and innovative solutions to contribute to the economic development of the UAE.”

Both organisations will exchange expertise and partner for joint innovation projects to develop and apply technologies in the areas of digital and mobile payments, blockchain and distributed ledgers, flexible platforms (API), among others.

The partnership further entails establishing knowledge transfer programmes, facilitating the sourcing of project partners or sponsors and helping FinTech entrepreneurs on understanding commercial or regulatory requirements in relation to their business activities.

Richard Teng, CEO of FSRA, ADGM, said: “We are excited to be partnering with Maqta Gateway and the Abu Dhabi Ports, to support innovation and initiatives that serve the commerce and trading in Abu Dhabi and the wider UAE economy.”

Source: Port Strategy