Dubai Free Zone Welcomes Solana As A Key Ecosystem Partner

The Solana Foundation has become a key partner for the Dubai Multi Commodities Centre (DMCC), a prominent free economic zone in the United Arab Emirates. Its establishment as an ecosystem partner showcases its integral role within the DMCC framework.

Official announcement: on Oct 15, the DMCC unveiled a groundbreaking partnership with Solana. The collaboration involves Solana leveraging its blockchain expertise to provide comprehensive technical and business development support to members of the DMCC Crypto Centre.

Additionally, Solana will conduct a series of webinars and educational courses covering various Web3 topics, empowering and enriching the knowledge and capabilities of DMCC’s vibrant crypto community.

The partnership extends beyond mere collaboration; Solana’s current partners will enjoy exclusive benefits within the DMCC ecosystem. According to Ahmed Bin Sulayem, the CEO of DMCC, these benefits include complimentary setup and business licensing for Solana ecosystem projects. Additionally, DMCC members gain access to a state-of-the-art blockchain platform and dedicated Solana engineering teams to propel their businesses to new heights.

Solana & DMCC’s Collaboration: Shaping The UAE’s Tech Future

DMCC is proud of its extensive network of ecosystem partners. This includes prominent industry players like the reputable crypto exchange Bybit, innovative digital asset market maker DWF Labs, cutting-edge Web3 incubator TDeFi, and forward-thinking venture capital fund Brinc.

Furthermore, it’s worth noting that DMCC’s membership has experienced exponential growth, now totaling an impressive 23,000 companies. This firmly establishes DMCC as a thriving hub for innovation and economic progress in the region.

DMCC, the Abu Dhabi Global Market, and the Dubai Silicon Oasis Authority are among the pioneering economic free zones established in the UAE. Their primary goal is to cultivate a thriving investment climate.

Soon, they will be joined by the Ras Al Khaimah Digital Assets Oasis, announced during the Blockchain Life 2023 event. This development further emphasizes the UAE’s commitment to embracing emerging technologies.

However, in Sept 2023, Solana reached an impressive milestone in the global blockchain and cryptocurrency landscape. It secured the 10th position worldwide in terms of total value locked, with an approximate amount of $359 million.

Additionally, the collaboration between Solana and the DMCC signifies a significant stride in bolstering the UAE’s presence in the realm of blockchain and cryptocurrency. As Solana continues its ascent, it stands ready to play a pivotal role in advancing the region’s technological and economic aspirations.

“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”