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Solana becomes ecosystem partner of Dubai free zone

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The Solana Foundation became an ecosystem partner for the Dubai Multi Commodities Centre, one of the free economic zones within the UAE.

The Solana Foundation became an ecosystem partner for the Dubai Multi Commodities Centre (DMCC), one of the free economic zones within the United Arab Emirates.

According to the announcement from Oct. 15, with its blockchain platform, Solana will provide technical and business development support to any DMCC Crypto Centre member. The company will also deliver webinars and educational courses on various Web3 topics and extend its already operating grant program in DMCC.

Solana’s existing partners will, in turn, get the privileged treatment in the DMCC, according to the Centre’s CEO, Ahmed Bin Sulayem:

“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.”

The list of DMCC’s ecosystem partners also includes the crypto exchange ByBit, the digital asset market maker DWF Labs, a Web3 incubator TDeFi, a venture capital fund Brinc, and several other entities, while the total number of the Centre’s members officially accounts for 23,000 companies.

Related: The state of Solana: Will the layer-1 protocol rise again in 2023?

Along with the Abu Dhabi Global Market (ADGM) and Dubai Silicon Oasis Authority (DSOA), the DMCC is one of the three initial economic free zones established in the UAE to boost its investment climate. This trio will soon be joined by the Ras Al Khaimah Digital Assets Oasis (RAK DAO), unveiled during Blockchain Life 2023.

By September 2023, Solana network has occupied the global tenth spot in terms of the total value locked (TVL) with an equivalent of roughly $359 million.

Magazine: Beyond crypto. Zero-knowledge proofs show potential from voting to finance

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