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Solana and Dubai’s DMCC forge alliance to fuel blockchain boom

TL;DR

  • Solana and DMCC partner to boost UAE’s blockchain ecosystem.
  • DMCC’s diverse crypto partnerships enhance blockchain innovation.
  • Solana ranks 10th globally with $359M TVL, signaling growth.

In a strategic move to bolster the burgeoning blockchain ecosystem within the United Arab Emirates (UAE), the Solana Foundation has joined forces with the Dubai Multi Commodities Centre (DMCC) as an official ecosystem partner. The partnership brings together the high-performance blockchain platform Solana and the DMCC, a prominent free economic zone in Dubai. 

The collaboration promises to foster technical and business development support, along with educational resources, for members of the DMCC Crypto Centre. The move is poised to enhance the growth and vibrancy of the burgeoning blockchain landscape in the UAE.

Solana, with its advanced blockchain technology, is set to play a pivotal role in the development of the DMCC’s Crypto Centre. As an ecosystem partner, the Solana Foundation is committed to providing essential technical and business support to all DMCC Crypto Centre members. This support is expected to facilitate the growth of blockchain projects, ushering them towards new heights of success.

Moreover, Solana will extend its reach through webinars and educational courses, focusing on various aspects of Web3 technologies. These educational resources are aimed at equipping members with the latest knowledge and tools required to navigate the dynamic world of blockchain and cryptocurrency.

In addition, Solana’s existing partners are set to benefit from this collaboration, receiving exclusive privileges within the DMCC. CEO of DMCC, Ahmed Bin Sulayem, stated, “We will provide complimentary setup and business licensing for Solana ecosystem projects, while our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights.”

Solana’s global rise in UAE partnership

This partnership further expands DMCC’s ecosystem, adding to its diverse lineup of ecosystem partners. Notably, DMCC has established relationships with significant players in the blockchain and crypto space, including the likes of ByBit, a prominent crypto exchange, digital asset market maker DWF Labs, Web3 incubator TDeFi, and venture capital fund Brinc, among others. This broad array of partners underscores DMCC’s commitment to creating a thriving environment for blockchain and crypto innovation.

With approximately 23,000 companies officially registered as members, the DMCC continues to attract businesses from various sectors, solidifying its position as a pivotal player in the region’s economic landscape.

The Dubai Multi Commodities Centre (DMCC) stands as one of the three initial economic free zones established in the UAE, alongside the Abu Dhabi Global Market (ADGM) and the Dubai Silicon Oasis Authority (DSOA). These zones were created with the overarching goal of enhancing the UAE’s investment climate, attracting businesses and fostering economic growth. The addition of the Ras Al Khaimah Digital Assets Oasis (RAK DAO), unveiled during Blockchain Life 2023, further underscores the UAE’s commitment to fostering a thriving blockchain ecosystem.

The Solana network has achieved a remarkable feat, securing its position as the tenth largest blockchain network in the world, based on Total Value Locked (TVL). With a TVL of approximately $359 million, Solana’s growth trajectory is indicative of its increasing popularity and utility within the global blockchain ecosystem.

The partnership between the Solana Foundation and the Dubai Multi Commodities Centre (DMCC) marks a significant milestone in the evolution of the UAE’s blockchain and cryptocurrency ecosystem. By joining forces, these two entities are set to empower blockchain projects and provide essential support, fostering innovation and growth in the dynamic world of blockchain technology. 

With DMCC’s expanding ecosystem and Solana’s rising global prominence, this collaboration promises to contribute to the flourishing blockchain landscape within the UAE, setting the stage for a bright future of blockchain innovation and economic growth.

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.

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Lacton Muriuki

Lacton is an experienced journalist specializing in blockchain-based technologies, including NFTs and cryptocurrency. He dabbles in daily crypto news rich with well-researched stats. He adds aesthetic appeal, adding a human face to technology.

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