Working Together for Saudi Arabia
Today saw two companies announce a new working relationship, with the intent of growing the digital securities sector – Securrency and Musharaka Capital.
The goal of this partnerships is to develop a digital securities issuance platform, targeting, specifically, towards Saudi Arabia.
Upon announcing their partnership, representatives from each, Securrency and Mushraka, took the time to comment.
John Hensel, Chief Operating Officer of Securrency, stated,
“We are pleased and honored to be working with Musharaka Capital on this groundbreaking initiative. Saudi Arabia is the largest market in the region and, by combining Musharaka's deep financial markets expertise and our cutting-edge technology, this venture will create new opportunities for capital formation and enhanced liquidity. Together with Musharaka's strong leadership team, Securrency aims to stimulate the growth of businesses in Saudi Arabia and streamline foreign investment into the Kingdom.”
Ibrahim Al-Assaf, CEO of Musharaka Capital stated,
“This is surely a Fintech leap. Such projects were not feasible a few years ago due to the lack of consumer demand. However, as the economy shifts to digital trading and consumer trends develop, we are introducing developments that didn't exist in the Saudi market. Our ability to be dynamic and adapt to consumer needs while having an agile and well-equipped team is essential to grow and succeed in our current business environment.”
Over the past year, there has been an increasing global presence surrounding digital securities. While the sector may have started out hot within North America, the concept behind tokenization quickly caught on, and spread to regions like Europe and Asia. Fast forward to today, and Europe has, arguably, made the most headway; As made evident through multiple countries developing clear regulations – resulting in companies shifting operations into these regions.
With that being said, it is both, positive and unsurprising, to see the sector making headway within the Middle East. While, technically, situated within multiple continents, the Middle East is most often viewed as its own region.
This expansion into new regions simply underscores the potential which digital securities hold, as countries around the world are working to establish partnerships and capabilities, to essentially ‘futureproof’ the way they operate.
Founded in 2013, Musharaka Capital maintains operations in Saudi Arabia. Above all, Musharaka Capital acts as an investment firm, with a focus on real-estate. Company services extend to include advisory services, portfolio management, custody, and more.
CEO, Ibrahim Al-Assaf, currently oversees company operations.
Founded in 2015, Securrency is headquartered in Washington, D.C. The team behind the company has developed a variety of offerings meant to service the digital securities sector. These services include the ‘Compliance Aware Token’, Securrency RegManager, Securrency InfinXchange, and more.
CEO, Dan Doney, currently oversees company operations.
In Other News
In our on-going interview series, we recently had the pleasure of speaking with Securrency CEO, Dan Doney. Through this conversation, we learn about Doney and his experiences with the FBI, NSA, DHS, and DIA, along with what makes Securrency special.