Dubai, known for its forward-thinking approach to technology and business, has welcomed a new partner into its economic fold. The Solana Foundation, a prominent player in the blockchain space, has become an ecosystem partner for the Dubai Multi Commodities Centre (DMCC), a leading free economic zone in the United Arab Emirates.
A Partnership for the Future
The collaboration between Solana and DMCC is not just symbolic. Solana, with its advanced blockchain platform, will offer both technical and business development assistance to members of the DMCC Crypto Centre. This includes the provision of webinars and educational courses on a range of Web3 topics. Furthermore, Solana will expand its ongoing grant program within the DMCC.
Ahmed Bin Sulayem, the CEO of DMCC, expressed his enthusiasm for the partnership, stating,
“We will provide complimentary setup and business licensing for Solana ecosystem projects. Our members will benefit from a top-tier blockchain platform and dedicated Solana engineering teams, propelling their businesses to unprecedented levels.”
DMCC’s Growing Ecosystem
The DMCC’s ecosystem is not limited to Solana. It boasts partnerships with several other notable entities, including the crypto exchange ByBit, digital asset market maker DWF Labs, Web3 incubator TDeFi, and venture capital fund Brinc. In total, the Centre has an impressive roster of 23,000 member companies.
UAE’s Commitment to Economic Growth
The DMCC is one of three pioneering economic free zones in the UAE, established to enhance the nation’s investment environment. The other two zones are the Abu Dhabi Global Market (ADGM) and the Dubai Silicon Oasis Authority (DSOA). Soon, these will be joined by the Ras Al Khaimah Digital Assets Oasis (RAK DAO), which was introduced at the Blockchain Life 2023 event.
Solana’s Global Impact
By September 2023, the Solana network had secured the tenth position globally in terms of total value locked (TVL), boasting a staggering $359 million.
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