The free zone of Dubai has appointed Solana as an ecosystem partner


The Solana Foundation has become a partner in the ecosystem of the Dubai Multi Commodities Centre, which is one of the free economic zones in the United Arab Emirates.

In the United Arab Emirates, one of the free economic zones is known as the Dubai Multi Commodities Centre (DMCC). The Solana Foundation has just become a participant in the ecosystem of this facility.

According to the statement that was made on October 15, Solana will provide members of the DMCC Crypto Centre both technical and commercial development help via the use of its blockchain platform. Additionally, the business will conduct instructional webinars and seminars on a variety of Web3 issues, in addition to expanding its grant program that is currently active in DMCC.

According to Ahmed Bin Sulayem, the Chief Executive Officer of the Dubai Multi Commodities Centre (DMCC), current partners of Solana would, in turn, be given preferential status inside the DMCC:

“Solana ecosystem projects will get free setup and business license, and members will have access to a robust blockchain infrastructure and dedicated Solana technical teams to help them reach new heights.”

The cryptocurrency exchange ByBit, the digital asset market maker DWF Labs, a Web3 incubator TDeFi, a startup capital fund Brinc, and numerous more organizations are included on the list of DMCC’s ecosystem partners. On the other hand, the official number of the Centre’s members is 23,000 different businesses.

One of the three inaugural economic free zones created in the United Arab Emirates (UAE) to promote the country’s business environment was the Dubai Multi Commodities Center (DMCC). The other two were the Abu Dhabi Global Market (ADGM) and the Dubai Silicon Oasis Authority (DSOA). The Ras Al Khaimah Digital Assets Oasis (RAK DAO), which was introduced at the Blockchain Life 2023 conference, will shortly become the third member of this group.

By September 2023, the Solana network had reached the tenth rank worldwide in terms of the total value locked (TVL), which is about comparable to $359 million.

Also Read: The Governor of California Signs Stricter Crypto Regulation Bill

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