• Tue. Feb 27th, 2024

DMCC and ByBit Team Up to Promote Crypto and Web 3 Adoption in Dubai

DMCC and ByBit Team Up to Promote Crypto and Web 3 Adoption in Dubai

Image credit: Dubai Media Office

The Dubai Multi Commodities Center (DMCC) – Free Zone and the Dubai Government of Commodities Trade and Enterprise have announced their partnership with global cryptocurrency firm ByBit.

As part of the partnership, ByBit will offer AED 500,000 in financial support to support new crypto ventures interested in establishing themselves at the DMCC Crypto Center, the largest community of Web3 and blockchain businesses.

ByBit will serve as CryptoCenter’s listing partner, providing exclusive support to crypto companies seeking to list digital assets on leading international exchanges.

Additionally, CryptoCenter members will have access to ByBit services.

Based in Dubai, ByBit stands as the third most popular crypto exchange in the world with over 15 million members.

As DMCC looks to further enhance the support available to CryptoCenter’s members, Bybit will participate in CryptoCenter’s educational initiatives by providing webinars and educational courses on the digital asset industry, emerging trends, centralized exchanges, and their impact on shaping the Web3. Industry.

Ahmed bin Sulaym, Executive Chairman and Chief Executive of DMCC, said: “Dubai has cemented its position as a global hub for crypto and Web 3 and the DMCC Crypto Center is proud to be the premier crypto institution in the region. This status is only enhanced by the presence of ByBit, so we are delighted to include them as an official ecosystem partner.

Ben Zhou, co-founder and CEO of ByBit, said: “Through the efforts of institutions like DMCC, Dubai has definitely become a global hub for the crypto industry.

The emirate is full of high-potential Web3 businesses, so we are proud to work with DMCC to facilitate their success and continue the evolution of the crypto industry and the global digital economy.

By bringing our level of transparency, listing and custody expertise and services to Crypto Center members, we can have a tangible impact on Dubai’s future as a crypto capital and achieve our goal of being the world’s ‘Crypto Arc’.

Meanwhile, the DMCC Crypto Center is a comprehensive ecosystem for companies developing Web3 and Blockchain projects and related value-added services, providing crypto businesses and entrepreneurs with everything they need to set up and scale their operations.

The center houses more than 550 businesses working in the Web3 and blockchain space.

New representative office in Mumbai

In other news, DMCC recently announced a partnership between business services firm PP Shah and Associates to open a representative office in Mumbai, India.

The new office aims to enhance relations between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed last year.

Leveraging DMCC’s regulatory framework and reputation within Indian business circles, the representative office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence at DMCC.

Read: DMCC opens representative office in Mumbai to strengthen UAE-India ties

Leave a Reply

Your email address will not be published. Required fields are marked *