Loading...

Abu Dhabi launches $2 billion crypto program to support Web3 and blockchain startups

Abu Dhabi launches $2 Billion crypto program to support Web3 and blockchain startups

Contents

Share link:

TL;DR

  • Abu Dhabi’s tech ecosystem, Hub71, has launched a $2 billion project to support Web3 and blockchain technology startups.
  • Hub71 will be home to this new initiative aimed at developing and researching cryptocurrencies.

Abu Dhabi’s tech ecosystem, Hub71, has launched a $2 billion project to support Web3 and blockchain technology startups. According to a press release today, this brand-new initiative called the Hub71+ Digital Assets Ecosystem would offer startups in the region different opportunities to interact with potential corporate, government, and investment entities.

The program aims to assist businesses relocating to Abu Dhabi and stimulate startup success in the Middle East and international markets.

Ahmad Ali Alwan, Deputy Chief Executive Officer of Hub71, declared that with the commencement of Hub71+ Digital Assets, Abu Dhabi is showing its receptiveness to companies that bring about revolutionary change and transformation on an international scale. He also expressed his belief in decentralization being the future of blockchain-based internet and Web3 startups playing a primary role in hastening this progress.

As the epicenter of Abu Dhabi’s Global Market financial district, Hub71 will be home to this new initiative aimed at developing and researching crypto assets. Led by First Abu Dhabi Bank (FAB) with support from cryptocurrency exchanges and service providers, this ambitious project is an example of the UAE’s long-standing commitment to fostering innovation in the crypto industry.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Shiba Inu
Cryptopolitan
Subscribe to CryptoPolitan