The Solana Foundation has joined the ecosystem of the Dubai Multi Commodities Centre, one of the UAE’s free economic zones. The Solana Foundation has joined the ecosystem of the Dubai Multi Commodities Centre (DMCC), one of the United Arab Emirates’ open economic zones. Solana will provide technical and commercial development support to any DMCC Crypto Centre member using its blockchain platform, according to an announcement made on October 15. In addition, the company will conduct webinars and instructional courses on numerous Web3 themes, as well as expand its already-running grant programme at DMCC.
According to the CEO of the DMCC, Ahmed Bin Sulayem, Solana’s existing partners will be given preferential treatment in the DMCC: “We will provide complimentary setup and business licencing for Solana ecosystem projects, while our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights.” The crypto exchange Bybit, digital asset market creator DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and several other businesses are among the DMCC’s ecosystem partners, with the centre’s total membership officially accounting for 23,000 enterprises.
The DMCC, together with the Abu Dhabi Global Market and the Dubai Silicon Oasis Authority, was one of the first three economic free zones formed in the UAE to improve the investment climate. The Ras Al Khaimah Digital Assets Oasis, which will be unveiled during Blockchain Life 2023, will soon join this group. By September 2023, the Solana network had risen to 10th place in the world in terms of total value locked, with an equivalent of approximately $359 million.