Bybit, one of the global leaders in the crypto exchange space, has inked a significant partnership with the American University of Sharjah (AUS), signaling a notable commitment to advancing crypto adoption in the UAE.
The signing of a Memorandum of Understanding in Sharjah marks the birth of this landmark collaboration.
Bybit bridging academia and Fintech
Bybit is not just dipping its toes into academia; it’s diving in headfirst. The crypto exchange is pledging an impressive AED 1,000,000 to establish a scholarship fund with AUS.
This initiative will support 20 chosen students in their pursuit of fintech and blockchain expertise. Starting this fall, selected scholars from computer science and engineering programs will be the inaugural beneficiaries of the Bybit Scholarship.
This partnership also extends to broader initiatives, which include an additional AED 100,000 sponsorship for the inaugural AUS-Bybit Inter-College Hackathon. This competition will take place during the 2023-2024 academic year, right on the grounds of the AUS College of Engineering.
The UAE is fully embracing the potential of digital currencies. It has identified crypto as a significant player for UAE trade, and the steadily rising number of crypto companies—over 772 in Dubai alone—is testament to this recognition.
This enthusiasm indicates the UAE’s intent to become a hotbed of innovation in the digital assets industry, thereby increasing the demand for blockchain experts.
Chancellor of AUS, Dr. Susan Mumm, underscored the importance of this partnership. She highlighted how AUS’s reputation as an educational beacon is partly due to its robust industry links.
Collaborating with Bybit aligns with AUS’s mission to bridge industry and academia, arming students with technical knowledge to stay at the forefront of the ever-evolving crypto and blockchain landscape.
Bybit’s co-founder and CEO, Ben Zhou, shared his optimism about this collaboration. He believes that younger generations are pivotal to advancing the blockchain revolution.
By establishing the Bybit Scholarship at AUS, they are assisting talented students in equipping themselves for the future of the industry.
Zhou expressed gratitude to AUS for the opportunity to raise crypto awareness among students and eagerly awaits the fresh ideas from these future blockchain scientists, engineers, and Web3 startup founders.
