In a wide-ranging interview, The Hashgraph Association President Kamal Youssefi discusses enterprise governance, scaling Hedera’s ecosystem, stablecoin infrastructure, and the strategic future of blockchain regulation.
As blockchain networks seek broader institutional relevance, The Hashgraph Association (THA) has emerged as a driving force behind Hedera’s structured push into enterprise-grade distributed ledger technology. Crypto Reporter spoke with THA President Kamal Youssefi during Token2049 in Dubai to unpack the Association’s global strategy – from funding models and developer tools to regulatory engagement and venture investments.
CR: What long-term role do you see The Hashgraph Association playing in driving institutional adoption of distributed ledger technology?
Kamal Youssefi: Our strategy is built around five pillars: education, transformation, innovation, incubation, and acceleration. These translate into four core objectives: enablement through training and certifications; ecosystem funding via a $5 billion development fund; structured acceleration programs across verticals like sustainability, on-chain finance, and loyalty; and global scaling through partnerships with tech providers, integrators, consulting firms, and academic institutions. We also foster cross-pollination between startups and enterprises – sometimes connecting early-stage teams with members of our Governing Council, which includes firms like Google, IBM, and Standard Bank.
CR: You were part of the original Hedera Governing Council setup. How do you view the balance between decentralization and enterprise governance?
Kamal Youssefi: Decentralization alone is not sufficient for highly regulated sectors. Governance is essential. That’s why Hedera operates as a public-permissioned network: anyone can access it, but node validators are trusted institutions. This model delivers transparency while ensuring SLAs,compliance, and accountability. That balance is crucial to earning enterprise trust.
CR: The Stablecoin Studio SDK was recently launched. What challenge does it address?
Kamal Youssefi: It simplifies the deployment of stablecoins and eliminates the need for builders to start from scratch. We’re providing plug-and-play SDKs – not just for stablecoins but also for identity, asset tokenization, and wallets. It reduces complexity and accelerates go-to-market timelines, especially for startups.
CR: From a developer or enterprise standpoint, what makes Hedera a preferred DLT for tokenized assets?
Kamal Youssefi: Hedera isn’t blockchain – it’s DLT based on the Hashgraph consensus algorithm. We offer five key differentiators: performance (10,000+ TPS), security (ABFT consensus), governance (via reputable council members), price stability (microtransaction costs in USD), and sustainability (carbon-negative operations). Together, these create an enterprise-grade infrastructure.
CR: Your collaboration with KPMG India targets the enterprise sector. Where do you see traction?
Kamal Youssefi: We’re seeing demand in digital identity, tokenization, payments, and supply chain solutions. India is a high-growth market. KPMG provides the business expertise and local regulatory navigation, while we bring in the technology layer. We’re also working with Nazara Technologies on gamified loyalty programs.
CR: How does THA differentiate itself from other blockchain foundations?
Kamal Youssefi: Unlike traditional foundations, we offer co-ownership and strategic input via an association model. We also deliver hands-on support – from engineering and security audits to equity investment. Post-acceleration, we promote top projects to VC funds, sovereign wealth partners, and even provide follow-on funding of up to $2 million.
CR: The $100M Web3 Fund under ADGM is a milestone. What’s your investment thesis?
Kamal Youssefi: It focuses exclusively on Hedera-based startups that graduate from our programs. Priority areas include sustainability, on-chain finance (DeFi, RWA), and consumer engagement. We provide a funding continuum – from grants to venture investment – with a clear scale-up path from MVP to Series A readiness.
CR: Why Abu Dhabi and ADGM?
Kamal Youssefi: ADGM offers regulatory clarity and proximity to regional capital. Investors here show strong appetite for digital assets, and Abu Dhabi is evolving into a hub for financial innovation.
CR: How do you handle compliance in markets with uncertain crypto regulation?
Kamal Youssefi: We work with legal partners like Dentons and DLA Piper and proactively engage regulators to explain our tech. For example, in Morocco and Qatar, we conducted workshops and helped distinguish between DLT as infrastructure and crypto assets as financial instruments. This educational approach has been key to building regulatory trust.
CR: What will validate Hedera’s positioning in Web3 over the next 12-18 months?
Kamal Youssefi: Three indicators: number of active network accounts, transaction volume – we processed up to 200 million per day – and total value represented (TVR) on-chain. Hedera’s progress in DeFi, tokenized assets, and enterprise adoption will reinforce its relevance across Web3.