DMCC said it has onboarded Solana Foundation as one of its ecosystem partners for technical support and building a stronger ecosystem.
Solana Foundation has joined the Dubai Multi Commodities Center (DMCC) as an ecosystem partner. DMCC, a free economic zone in the United Arab Emirates (UAE), will receive technical assistance and business development support from Solana Foundation.
an official Announcement The Solana Foundation’s support will reportedly be provided to the DMCC Crypto Center, an ecosystem that includes Web3 and blockchain technology companies. DMCC Crypto Center caters to businesses and entrepreneurs who want to start and expand their business.
Solana and DMCC partnership
This partnership will enhance DMCC’s existing offerings, helping members develop, launch, and scale through Solana. Additionally, the Solana Foundation and DMCC Crypto Center will deliver webinars and educational materials on a number of Web3 topics.
Ahmed bin Sulayem, Acting Chairman and Chief Executive Officer of DMCC, said that providing assistance is the core philosophy of the free zone. According to the CEO, this strategy has helped the center develop one of the most dynamic Web3 ecosystems in the world. He also said that DMCC is the largest hub for blockchain businesses in the MENA region. Ahmad bin Sulayem said:
“Through this historic signing, we will provide complimentary set up and business licensing for Solana ecosystem projects, while our members can access a world-class blockchain platform and dedicated Solana engineering teams to take their businesses to new heights. Can.”
DMCC partners include popular crypto exchange ByBit, Web3 incubator firm TDeFi, crypto market maker DWF Labs, and venture capital and accelerator firm Brink. The DMCC is one of three economic free zones the UAE hopes will boost investment in the region. Other free zones include Dubai Silicon Oasis Authority and Abu Dhabi Global Market.
DMCC also partnered with Enya Labs
In March, D.M.C.C. participation With decentralized infrastructure solutions developer Enya Labs, a major Boba Network contributor. Like Solana, the partnership also sought to provide technical support to DMCC. Additionally, Enya Labs will help create a mentorship program through the DMCC Crypto Academy.
Among other things, DMCC said it plans to facilitate the development of smart applications by leveraging the Boba network. The network is a global platform that helps Web3 and blockchain businesses build next-generation decentralized applications (dApps) with cheaper transaction and computation fees. Boba Network helps developers create smart contracts on multiple blockchain networks, including Avalanche. Ethereum, and Moonbeam. This partnership is also beneficial for Enya Labs as it will access the DMCC Crypto Center’s community to find companies that can support the Boba Network.
According to CoinMarketCap data, Solana is the 7th largest crypto by market cap with over $9.5 billion. Trading at $23 at the time of writing, SOL is up nearly 5% in the last 24 hours and more than 3% in 7 days.
In early September, the payments giant Visa Inc announced that it is expanding stablecoin settlement to include the Solana blockchain through merchant acquirers Nuvei and Worldpay. An official also added visa release It has already transferred millions of USDC between issuers and acquirers via Solana and Ethereum networks to settle fiat payments.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to strip down the secrets of crypto stories to the basics so that anyone anywhere can understand without too much background knowledge. When Tolu is not deeply immersed in crypto stories, he enjoys music, loves to sing and is an avid film buff.
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