The Solana Foundation has become an ecosystem partner for Dubai Multi Commodities Centre (DMCC), one of the United Arab Emirates’ free economic zones.
According to an announcement from October 15, Solana will provide technical and business development support to any DMCC Crypto Centre member using its blockchain platform.
In addition to giving webinars and educational courses on various Web3-related topics, the company will expand its existing grant program in DMCC.
Solana’s existing collaborators will receive preferential treatment in the DMCC, according to Ahmed Bin Sulayem, CEO of the Centre:
“We will provide complimentary setup and business licensing for Solana ecosystem projects whilst our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights.”
Among the DMCC’s ecosystem partners are the cryptocurrency exchange ByBit, the digital asset market creator DWF Labs, the Web3 incubator TDeFi, the venture capital fund Brinc, and several other entities, while the Centre’s official membership totals 23,000 businesses.
Along with the Abu Dhabi Global Market (ADGM) and Dubai Silicon Oasis Authority (DSOA), the Dubai Multi Commodities Centre (DMCC) is one of the three initial economic free zones established in the United Arab Emirates (UAE) to enhance its investment climate. Ras Al Khaimah Digital Assets Oasis (RAK DAO), unveiled during Blockchain Life 2023, will shortly join this trio.
By September 2023, the Solana network will rank tenth globally in terms of total value secured (TVL), valued at approximately $359 million.
