Nikolas Sargeant
The Solana Foundation has partnered with the Dubai Multi Commodities Centre (DMCC), the largest free trade zone in the UAE. As an ecosystem partner, Solana aims to explore the Web3 value in Dubai.
Solana has entered into a collaboration with Dubai's DMCC crypto community. The collaboration will involve Solana offering technical and business development support to the community. The DMCC Crypto Centre is home to over 550 crypto firms and is the largest ecosystem of crypto and blockchain companies in the region, according to the official release.
The integration of Solana (SOL) would enhance the capabilities of DMCC members to develop their ideas and expand their projects. Solana is recognized as one of the leading blockchains, with a market capitalization exceeding $9.4 billion, placing it in the top 10 global crypto projects.
The free zone will offer free setup and business licensing for Solana ecosystem projects. The CEO of DMCC, Ahmed Bin Sulayem, stated that this is in line with their philosophy for the DMCC Crypto Centre. They aim to provide a supportive environment for Web3 firms, creating a dynamic and value-creating ecosystem. The MENA region is home to the largest concentration of crypto, blockchain, and Web3 businesses.
Solana will offer webinars and educational training on various Web3 topics. The DMCC Crypto Centre has partnered with companies such as Bybit, Hacken, and Brinc. These companies focus on developing Web3 and blockchain technologies and providing additional services for crypto businesses and entrepreneurs.
Solana's recent performance attracted attention as it received a significant inflow of approximately $24 million, marking the largest since March 2022, according to Coinshares report.
