The Solana Foundation has taken on the role of an ecosystem partner for the Dubai Multi Commodities Centre (DMCC), one of the United Arab Emirates’ (UAE) free economic zones. This strategic partnership, announced on October 15, underscores Solana’s commitment to the DMCC Crypto Centre. Solana, with its cutting-edge blockchain platform, pledges to provide extensive technical and business development support to all DMCC Crypto Centre members. Moreover, the company will roll out a series of webinars and educational courses on various Web3 topics, and it will expand its existing grant program within the DMCC.
Ahmed Bin Sulayem, the CEO of the DMCC, has outlined the privileges awaiting Solana’s existing partners within the DMCC ecosystem: “We are pleased to offer Solana ecosystem projects complimentary setup and business licensing. Our members will have unfettered access to a world-class blockchain platform and dedicated Solana engineering teams poised to elevate their businesses to new horizons.”
The illustrious list of DMCC’s ecosystem partners doesn’t stop at Solana. It includes prominent entities like the cryptocurrency exchange Bybit, the digital asset market maker DWF Labs, the Web3 incubator TDeFi, the venture capital fund Brinc, and a host of other distinguished organizations. Astonishingly, the DMCC boasts an official membership of 23,000 companies, consolidating its stature as a thriving hub for economic activities.
The DMCC, alongside the Abu Dhabi Global Market and the Dubai Silicon Oasis Authority, stands as one of the pioneering economic free zones in the UAE, strategically established to foster a vibrant investment climate. This trinity is soon to be joined by the Ras Al Khaimah Digital Assets Oasis, a groundbreaking initiative unveiled during the Blockchain Life 2023 event.
As of September 2023, the Solana network proudly occupies the 10th position globally in terms of the total value locked, amassing an impressive equivalent of approximately $359 million.
