Solana Became Partner of DMCC Ecosystem

The Dubai Multi Commodities Centre (DMCC), a free economic zone in the United Arab Emirates, has partnered with the Solana Foundation.

Solana will offer technical and business development assistance to all DMCC Crypto Centre members using its blockchain platform. Additionally, Solana will provide webinars and educational courses on various Web3 topics and extend its operational grant program at DMCC.

In exchange, Solana’s existing partners will receive preferential treatment at DMCC.

In this regard, DMCC CEO Ahmed Bin Sulayem said: “We will provide complimentary setup and business licensing 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.”

DMCC’s ecosystem partners include various entities, such as the crypto exchange Bybit, digital asset market maker DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and others. The DMCC has a member count of 23,000 companies.

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

The Ras Al Khaimah Digital Assets Oasis, revealed during Blockchain Life 2023, will soon join this trio. As of September 2023, the Solana network had secured the 10th position globally in terms of the total value locked, holding an equivalent of approximately $359 million.

Earlier in June, Exarta, an AI solutions provider and one of the top 32 metaverse companies in the world announced it had opened a new office at the DMCC Crypto Centre in Dubai.

The new office will serve as a regional hub for EXARTA’s operations in the Middle East in light of its plan to support the increasing demand for Web3 and AI solutions.