Solana Foundation Joins DMCC, Expanding Blockchain Support Within UAE's Free Economic Zones
Summary:
The Solana Foundation has partnered with the Dubai Multi Commodities Centre (DMCC), offering technical and business development support for its members. DMCC will offer free setup and licensing for projects within the Solana ecosystem. Solana's educational courses and webinars on Web3 topics will be available to its partners, who are among the DMCC's 23,000 members. This partnership is seen as a significant investment effort within UAE's free economic zones. Solana's network currently ranks tenth globally in terms of total value locked (TVL).
The Solana Foundation has joined forces with the Dubai Multi Commodities Centre (DMCC), a free economic zone in the United Arab Emirates. In an Oct 15th announcement, it was shared that Solana would leverage its blockchain platform to offer technical and entrepreneurial expertise to members of the DMCC Crypto Centre. The firm also plans to conduct webinars and instructive courses about different aspects of Web3, while extending its current grant scheme within DMCC. The Centre’s CEO, Ahmed Bin Sulayem, stated DMCC would offer free onboarding and business registrations for Solana's network projects and that their members would have access to a top-class blockchain platform and dedicated Solana engineering teams to catapult their businesses. Among DMCC's ecosystem partners are crypto exchange ByBit, digital asset market maker DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and several others, bringing the total number of DMCC members to 23,000 companies. DMCC, Abu Dhabi Global Market (ADGM), and Dubai Silicon Oasis Authority (DSOA) are the initial free economic zones in the UAE, formulated to foster an investment-friendly environment. They are to be soon joined by the Ras Al Khaimah Digital Assets Oasis (RAK DAO), set to be launched during Blockchain Life 2023. As of September 2023, Solana's network ranks tenth worldwide in terms of total value locked (TVL) with approximately $359 million locked value.
Published At
10/16/2023 8:29:52 AM
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