The Solana Foundation, the driving force behind the prominent layer-1 blockchain Solana, has entered into a pivotal partnership with the Dubai Multi Commodities Centre (DMCC), the largest free trade zone in the United Arab Emirates. This collaboration is poised to harness the potential of the Web3 ecosystem in Dubai and is expected to be a game-changer in the world of cryptocurrency.
As an ecosystem partner of DMCC, Solana is set to provide invaluable technical and business development support to Dubai’s rapidly growing crypto community. The DMCC Crypto Centre already boasts over 550 crypto firms, forming the most extensive crypto and blockchain ecosystem in the region.
Solana’s integration into the DMCC ecosystem is set to empower its members to further develop their innovative ideas and scale their projects using one of the world’s top blockchains. With a market capitalization exceeding $9.4 billion, Solana is among the top 10 global crypto projects, making it a formidable partner for the DMCC.
In addition to facilitating a supportive environment for Solana ecosystem projects, DMCC CEO Ahmed Bin Sulayem has announced that they will offer complimentary setup and business licensing services. This strategic move aims to create a dynamic and value-rich Web3 ecosystem, establishing the DMCC Crypto Centre as the hub for crypto, blockchain, and Web3 businesses in the MENA region.
Furthermore, the partnership will see Solana delivering webinars and educational training on a diverse range of Web3 topics, enhancing the knowledge base of crypto enthusiasts in the region.
The DMCC Crypto Centre is already home to an array of notable partners, including Bybit, Hacken, and Brinc, all of which contribute to the development of Web3 and blockchain technologies. This partnership solidifies DMCC’s commitment to providing the ideal environment for crypto businesses and entrepreneurs to thrive.
Solana’s recent performance, with a substantial inflow of around $24 million, has thrust the altcoin into the spotlight. This marks the largest inflow since March 2022, underscoring the growing interest and confidence in the Solana ecosystem.
