Ateon partners with R3 to develop Blockchain solutions in MENA

Ateon, a Fintech solutions provider and integrator with a special focus on Blockchain and CyberSecurity has recently signed an agreement with R3 Firms to develop innovative applications on R3’s Corda Blockchain platform. Ateon is part of the Alhamrani Group which serves the Kingdom of Saudi Arabia since 1957.Ateon was the first Blockchain solutions provider in the KSA.

Tariq Abdat, Ateon and Alhamrani Universal’s President stated, “We are excited about the collaboration as almost 200 central banks, regulators, top technology and consultancy companies are already a part of R3 network. We hope to leverage this milestone as an advantage and work even closer with local participants to offer innovative and scalable solutions using R3 enterprise platform offerings”.

Alhamrani Universal (AU) is the largest ATMs and among the top few PoS solutions provider companies in the Middle East. With its head office in Saudi and fully functional offices in Dubai, the company wishes to continue the successful journey with the renewed mission to align existing technologies, as well as developing new, cutting- edge software solutions.

“Over three decades of dedication, teamwork and support from our globally renowned technology partners has been key to AU’s success. We are committed to work closely with new partners to ensure long-term and mutually shared business benefits in common domains of interest.” added Mr. Abdat.

David E. Rutter, CEO of R3, commented “Through this partnership, we are excited to be moving to the forefront of the Middle East’s developing blockchain industry and welcoming Ateon into the diverse global R3 ecosystem of leading institutions. The combination of Alhamrani Universal’s robust track record in delivering financial technology and R3’s blockchain expertise will help to accelerate the development of this technology across the region.”