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Solana and DMCC Partnership: Dubai Multi Commodities Centre Joins the Solana Ecosystem - COINTURK NEWS

source-logo  en.coin-turk.com 16 October 2023 11:23, UTC

In the bullish season of 2021, many blockchain network projects became the rising stars of that period. Despite experiencing significant value losses due to regulatory measures, these projects continue to take serious steps forward, even though they may not show any tangible assets on paper. Accordingly, the Solana Foundation has announced that it is partnering with the Dubai Multi Commodities Centre (DMCC), one of the free economic zones in the United Arab Emirates.

Solana and DMCC Collaboration

According to an announcement made by the Solana team on October 15, the Solana blockchain platform will provide technical and business development support to DMCC Crypto Center members. Additionally, the Solana Foundation stated that it will also offer webinars and training courses on various Web3 topics. The expansion of the grant program operated by DMCC is also planned.

According to Ahmed Bin Sulayem, the CEO of DMCC Crypto Center, the existing partners collaborating with Solana will also enjoy many privileges at DMCC. Sulayem continued his statement as follows:

“While providing free setup and operating licenses for Solana ecosystem projects, our members will have access to a top-notch blockchain platform and exclusive Solana engineering teams that can take their businesses to new heights.”

Notable Partnerships

DMCC’s ecosystem partners are not limited to Solana alone. Famous cryptocurrency exchange Bybit, crypto asset market services provider DWF Labs, We3 company TDeFi, venture capital fund Brinc, and many other organizations will also be part of this structure. The total number of members in the center officially brings together 23,000 companies.

Together with Abu Dhabi Global Market and Dubai Silicon Oasis Authority, DMCC is one of the first three economic free zones established in the United Arab Emirates to improve investment diversity. The Ras Al Khaimah Digital Assets Oasis, introduced during Blockchain Life 2023, will soon join these three zones.

Since September, the Solana network has ranked 10th in the field with nearly $359 million worth of total locked value, and at the time of writing, the SOL token was trading at $23.47.