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Solana joins Dubai Free Zone as an ecosystem partner

Published

1 year ago

October 17, 2023

The Solana Foundation has forged a partnership with the Dubai Multi Commodities Centre (DMCC), an economic free zone within the UAE, to foster the growth of the Solana ecosystem.

In its announcement on October 15th, Solana’s blockchain platform is all set to extend its assistance in both technical and business development to all members of the DMCC Crypto Centre.

The Solana Foundation will conduct webinars and provide educational courses on Web3 topics and will expand its grant program to support projects within the DMCC Crypto Centre.

In addition, The CEO of the DMCC Crypto Centre, Ahmed Bin Sulayem, has stated that the DMCC will give priority to existing partners of Solana when providing services.

“We will provide complimentary setup and business licensing for Solana ecosystem projects whilst our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights.”

Among DMCC’s ecosystem partners, entities like the crypto exchange Bybit, digital asset market maker DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and several others can be found. The total count of companies within the center’s membership stands at an impressive 23,000.

Similarly, The DMCC is one of the three economic free zones in the UAE, alongside the Abu Dhabi Global Market and Dubai Silicon Oasis Authority. These zones were established to attract foreign investment and promote economic development in the UAE.

However, The Blockchain Life 2023 event recently unveiled the Ras Al Khaimah Digital Assets Oasis, a new economic free zone, which will join the three existing free zones in the UAE.

Data as of September 2023 indicates that the Solana network had $359 million in total value locked, ranking it as the tenth-largest platform globally in terms of this metric.