Solana Partners with DMCC to Boost UAE Blockchain Ecosystem

The Solana Foundation has joined the Dubai Multi Commodities Centre (DMCC), one of the free economic zones in the United Arab Emirates, as an ecosystem partner.

According to an announcement from October 15, Solana will provide technical and business development support to any DMCC Crypto Center member using its blockchain platform.

In addition to providing webinars and educational courses on a variety of Web3-related topics, the company will expand its existing grant program at DMCC.

Solana’s existing collaborators will receive preferential treatment in the DMCC, according to Ahmed Bin Sulayem, the center’s chief executive officer.

“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 collaborators are the cryptocurrency exchange Bybit, the digital asset market maker DWF Labs, the Web3 incubator TDeFi, the venture capital fund Brinc, and several other entities, while the center’s official membership totals 23,000 businesses.

Along with the Abu Dhabi Global Market and Dubai Silicon Oasis Authority, the DMCC is one of the first three economic free zones to be established in the UAE to improve the country’s investment climate.

The Ras Al Khaimah Digital Assets Oasis, unveiled during Blockchain Life 2023, will shortly join this trio.

By September 2023, the Solana network ranked tenth worldwide in terms of total value secured, with an equivalent of approximately $359 million.