Solana Partners with Dubai Free Zone

Solana Coin SOL

The Solana Foundation has joined forces with the Dubai Multi Commodities Centre (DMCC), a prominent free economic zone in the United Arab Emirates, as an ecosystem partner.

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Solana Partners with Dubai Multi Commodities Centre (DMCC)

The Solana Foundation recently joined forces with the Dubai Multi Commodities Centre (DMCC), a UAE-based free economic zone. Under this partnership, Solana, through its blockchain platform, will offer technical support and assist in business development for DMCC Crypto Centre members. The collaboration includes providing webinars and educational courses related to Web3 topics. Moreover, Solana will expand its grant program within DMCC.

Additionally, existing Solana partners will receive preferential treatment within DMCC. As stated by DMCC’s CEO, Ahmed Bin Sulayem, the partnership involves complimentary setup and business licensing for Solana ecosystem projects. DMCC members will gain access to a world-class blockchain platform and dedicated Solana engineering teams, which can elevate their businesses.

DMCC boasts a variety of ecosystem partners, including ByBit, DWF Labs, TDeFi, Brinc, and others. The center’s total membership comprises approximately 23,000 companies.

DMCC, along with the Abu Dhabi Global Market (ADGM) and Dubai Silicon Oasis Authority (DSOA), is one of the UAE’s initial economic free zones created to enhance the investment climate. The addition of Ras Al Khaimah Digital Assets Oasis (RAK DAO) is expected to further expand these initiatives.

As of September 2023, the Solana network holds the tenth position globally in terms of total value locked (TVL), amounting to approximately $359 million.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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