New Consensus with DIFC – Fintech cooperation strengthened between China and Dubai
DIFC and Jiaozi Fintech DreamWorks have agreed to collaborate on important sectors like; artificial intelligence, cloud computing, big data and blockchain.
DIFC, Dubai International Financial Centre, has signed a Memorandum of Understanding (MoU) with China’s first entrepreneurship platforms and fintech innovation, Chengdu-based Jiaozi Fintech DreamWorks.
This agreement has conditions which enable all fintech businesses that are located in Dubai and in Chengdu, to avail the opportunities, secure access and benefits from both markets.
Dubai International Financial Centre (DIFC) proclaims that the recent Memorandum of Understanding (MoU) supports the United Arab Emirates by accommodating the ‘Belt and Road’ economic development and also forms an important part of DIFC’s strategy of 2014, to further develop relationships with international financial communities and increase chances of access to the Southern corridor.
DIFC is anticipating towards the collaboration with Jiaozi Fintech DreamWorks. They are especially looking forward to the key segments like; big data, artificial intelligence, cloud computing and blockchain. The way DIFC will become the gateway for African, Middle East and South Asia, Chengdu can have the same access towards China and the Asian region.
For Chinese companies which are looking for potential growth from the MEASA region, DIFC and Dubai continue to being their point top choice.
With the vigorous Chinese ecosystem, inclusive of every headquarters of the four major banks of China, they are assured that the agreement will help the Jiaozi Fintech DreamWorks body by assisting them in gaining access to new opportunities. The agreement will involve talented people from both countries to engage in cross border training programs and workshops.
In a span of two years, the DIFC has lured more than 200 Fintech related firms.
DIFC has invested in 4 fintech related startups via its accelerating program, which was part of the Fintech Fund of $100m that would help upscale and establish fintech startups.