The Solana Foundation, the nonprofit organization behind the layer-1 blockchain Solana, has taken an exciting step forward by joining the Dubai Multi Commodities Centre (DMCC) as an ecosystem partner. This strategic move is aimed at tapping into the thriving Web3 value that Dubai has to offer.
The collaboration between Solana and DMCC will bring forth a range of benefits for the crypto community in Dubai. Solana will extend its support by providing technical and business development assistance to DMCC’s crypto community, which currently comprises over 550 crypto firms. As the largest ecosystem of crypto and blockchain companies in the region, DMCC presents a significant opportunity for Solana to make a positive impact in the market.
Unlocking Development Potential
Through the integration of Solana’s (SOL) blockchain, DMCC members will gain greater capabilities in developing their concepts and scaling their projects. Solana’s extensive market capitalization of over $9.4 billion positions it as one of the top 10 global crypto projects, instilling confidence in its ability to deliver results. By partnering with DMCC, Solana aims to facilitate growth and innovation within Dubai’s crypto industry.
A Supportive Environment for Success
DMCC, known for its commitment to fostering a supportive environment for businesses, will offer complimentary setup and business licensing for Solana ecosystem projects. This proactive approach underscores DMCC’s dedication to nurturing the growth of the Web3 sector. Ahmed Bin Sulayem, CEO of DMCC, emphasized the center’s philosophy in providing a supportive environment, calling it the core of their strategy. With the DMCC Crypto Centre boasting the largest concentration of crypto, blockchain, and Web3 businesses across the MENA region, it is clear that DMCC is dedicated to creating a dynamic and value-driven ecosystem.
In addition to technical and business support, Solana will also contribute to the community through webinars and educational trainings on various Web3 topics. This commitment to knowledge sharing and collaboration will further enhance the capabilities of Dubai’s crypto community, enabling them to stay at the forefront of industry developments. Solana’s expertise and experience will bring immense value to the members of DMCC, fostering a culture of growth and innovation.
The DMCC Crypto Centre boasts an impressive lineup of partners, including Bybit, Hacken, and Brinc, among others. These partners play a vital role in developing Web3 and blockchain technologies, as well as providing associated value-added services. With their collective efforts, the DMCC Crypto Centre creates an environment that caters to the needs of crypto businesses and entrepreneurs, further strengthening the crypto ecosystem in Dubai.
The Solana Foundation’s partnership with DMCC as an ecosystem partner marks an important milestone in tapping into Dubai’s Web3 value. By offering technical and business development support, Solana aims to empower and facilitate growth within Dubai’s crypto community. The complementary setup and business licensing provided by DMCC demonstrate their commitment to nurturing the Web3 sector. Through knowledge sharing and collaboration, Solana will contribute to the continuous evolution of Dubai’s crypto ecosystem. Together, Solana and DMCC are poised to make significant strides in advancing blockchain technology and fostering innovation in the region.