Blockchain Enabled Instimatch Partners Saudi Muqassa
Muqassa, a subsidiary of Saudi Arabia’s Tadawul Group, has signed an MOU with Swiss Blockchain-enabled Instimatch to launch a repo trading platform to improve the financial structure of the Saudi Capital Market.
The platform aims to reduce post-trade risk. Muqassa will conduct central clearing for all repo transactions on the new platform, while Instimatch will collaborate with platforms like R3 and AlGorand to improve it.
The MoU will also enable collaboration to introduce new products and services in the Saudi capital market, supporting market development and diversification under Vision 2030.
(With inputs from Shikha Singh)
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