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Solana Partners with Dubai’s DMCC to Boost Crypto Ecosystem

Solana Foundation has entered into a strategic partnership with the DMCC, a prominent free economic zone in the UAE.

by Isaac lane
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Solana Foundation has entered into a strategic partnership with the Dubai Multi Commodities Centre (DMCC), a prominent free economic zone in the UAE. This collaboration is set to catalyze the growth of the blockchain ecosystem within the DMCC.

Technical Support and Education

Solana Foundation, leveraging its advanced blockchain platform, will offer essential technical and business development support to members of the DMCC Crypto Centre. Additionally, the foundation will host webinars and educational courses covering various Web3 topics, enhancing knowledge and expertise in the field. Furthermore, the foundation will expand its existing grant program at DMCC.

Members of the Solana ecosystem will enjoy exclusive benefits within the DMCC. This includes complimentary setup and business licensing support, a crucial advantage for blockchain projects. The DMCC will also provide access to a world-class blockchain platform and dedicated Solana engineering teams to help these businesses reach new heights.

Strengthening the DMCC Ecosystem

The DMCC boasts a diverse range of ecosystem partners, including crypto exchange Bybit, digital asset market maker DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and various other entities. With a substantial membership of 23,000 companies, the DMCC continues to foster growth and innovation within the UAE.

The DMCC, one of the UAE’s initial economic free zones, along with the Abu Dhabi Global Market and Dubai Silicon Oasis Authority, plays a pivotal role in enhancing the investment climate of the region. The forthcoming addition of the Ras Al Khaimah Digital Assets Oasis further signifies the UAE’s commitment to advancing the blockchain and cryptocurrency ecosystem.

Solana’s Global Impact

By September 2023, Solana had firmly established itself as a significant player in the blockchain space, ranking 10th globally in terms of total value locked, with approximately $359 million worth of assets utilizing its platform. This partnership with the DMCC marks another milestone in Solana’s journey toward global blockchain prominence.

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