June 22, 2024

Bybit partners with DMCC to accept crypto and Web3

Facebook
Twitter
LinkedIn
Bybit
Ahmed Bin Sulayem, Executive Chairman and Chief Executive of DMCC, and Ben Zhou, Co-founder and CEO of Bybit, signed an MOU in Dubai on June 5, 2023

Bybit, the world’s third most visited crypto exchange, has announced a strategic partnership with the leading global business district, the Dubai Multi Commodities Centre (DMCC) to accelerate the mass adoption of crypto in Dubai and deliver on its promise of investing in the Web3 ecosystem in the emirate. The collaboration will see Bybit become an official Ecosystem Partner for the DMCC Crypto Centre, the largest concentration of crypto and Web3 businesses in the MENA region.

Bybit and DMCC signed a Memorandum of Understanding (MOU) to support the growth of the crypto community in the region. The agreement follows the unveiling of Bybit’s global headquarters in Dubai on April 17 when it alluded to further localization efforts in the region.

The MOU includes Bybit’s pledge of financial support in the amount of AED 500,000 to kickstart the growth journeys of 15 new Web3 companies at the DMCC Crypto Centre. To qualify for this opportunity, start-ups must successfully pass the standard compliance and due diligence checks required by DMCC.

Bybit will also serve as DMCC’s crypto listing partner and assist in other blockchain-related projects. The exchange will play an active advisory and guidance role at the DMCC Crypto Centre, sharing first-hand insights and technical know-how to help young projects succeed and get listed on the Bybit platform. Currently on the roadmap are two hackathons in the DMCC’s crypto and gaming centers. These hackathons will convene developers, entrepreneurs, and industry experts to collaborate and foster ground-breaking ideas to shape the crypto and Web3 industries.

The DMCC Crypto Centre will provide Bybit with another avenue for collaboration with innovative crypto and Web3 entrepreneurs and founders. Bybit will also contribute to the Centre’s efforts in knowledge sharing and capacity building in the digital economy through webinars, curated courses, educational content, and awareness campaigns. As the world’s “Crypto Ark,” Bybit will be available to DMCC Crypto Centre members’ companies where appropriate to help them bring their ambitions to fruition.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive of DMCC

Ahmed Bin Sulayem, Executive Chairman and Chief Executive of DMCC, said: “Dubai has truly cemented its position as a global hub for crypto and Web3, with the DMCC Crypto Centre boasting the highest concentration of crypto firms in the region. This status has only been bolstered by Bybit’s presence in the emirate, so we are excited to have them on board as an official Ecosystem Partner. Thanks to Bybit’s industry-leading expertise and financial contribution, this partnership will see the acceleration of the impact that Dubai’s game-changing crypto and Web3 businesses are having on the industry.”

The MOU underpins the partners’ shared vision to develop a vibrant hub of blockchain-based activity and connectivity. It also gives Bybit access to the broad membership of DMCC as an Ecosystem Partner, which includes technology partners, government bodies, investors, incubators/accelerators, and service providers.

Ben Zhou, co-founder and CEO of Bybit

“We are delighted to be partnering with such a prestigious organization as the DMCC,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to enriching the Web3 ecosystem on our journey to become the world’s ‘Crypto Ark’ and want to do our part in advancing innovation and competition in the digital economy. We look forward to bringing our own brand of next-level opportunities to the UAE’s burgeoning crypto community.”​​

Feras Al Sadek, Managing Partner, Ghaf Capital Partner & Ghaf Labs

“Congratulations to the partnership. I am very pleased to have a part in this momentous partnership between Bybit and DMCC. This partnership is a classic example of what Web3 collaboration and support looks like. I’m excited to see how this partnership will add value to the web3 ecosystem. My core focus has always been to enrich and interconnect the Web3 ecosystem in the UAE and will continue to give my support by leveraging our immediate network,” said Feras Al Sadek, Managing Partner, Ghaf Capital Partner & Ghaf Labs.

Source

Share.

RELATED POSTS

SAB partners with Ottu to enhance digital payments
SAB collaborates with Ottu
HAQQ partners with Brighty App for fintech innovation
HAQQ partners with Brighty App for fintech innovation
Emirates NBD Head Office
Emirates NBD unveils SustainTech Accelerator Program
  • Tamkeen Insurance banner
  • International Assurance

LATEST POSTS

Sprhava 887x444
Schneider Electric And Aveva Forges Partnership With IN-CORE Systèmes To Boost EV Battery Production Process
Aditum and Standard Chartered partner on first-of-its-kind fund structure wherein Ten funds approved; four already funded
Azizi Developments And Xylem Partnership For Riviera, Vista And Beach Oasis with the most technologically advanced, high-quality transfer-, booster-, and chilled-water pumps and sump pumps