The Solana Foundation has formed a valuable partnership with the Dubai Multi Commodities Centre (DMCC), one of the United Arab Emirates’ thriving free economic zones.
In a recent announcement on October 15th, Solana is set to contribute its blockchain platform to offer both technical assistance and support for business development to members of the DMCC Crypto Centre. Additionally, the company will host webinars and educational courses covering various Web3 topics and expand its already established grant program within the DMCC.
Ahmed Bin Sulayem, the CEO of the DMCC, emphasizes that Solana’s current partners will enjoy special privileges within the DMCC, receiving complimentary setup assistance and business licensing for their ecosystem projects. This enables DMCC members to access a world-class blockchain platform and dedicated Solana engineering teams, opening doors to new business opportunities.
The DMCC’s roster of ecosystem partners also includes notable names such as the cryptocurrency exchange ByBit, digital asset market maker DWF Labs, the Web3 incubator TDeFi, the venture capital fund Brinc, and several other entities. The DMCC boasts an official membership of 23,000 companies, further cementing its significance.
Together with the Abu Dhabi Global Market (ADGM) and the Dubai Silicon Oasis Authority (DSOA), the DMCC stands as one of the initial three economic free zones in the UAE, playing a pivotal role in enhancing the investment climate of the region. Soon, the Ras Al Khaimah Digital Assets Oasis (RAK DAO), unveiled during Blockchain Life 2023, will join this trio.
By September 2023, the Solana network had secured its position as the tenth largest globally in terms of total value locked (TVL), equivalent to approximately $359 million.