RAK DAO, the world’s first and only Free Zone with Common Law features established to support digital assets companies, has entered into a strategic partnership with Phoenix Group and IOPn. This partnership focuses on the power innovation, fostering economic growth, and further positions Ras al Khaimah as a global hub for Web3 pioneers.
Industry sources added that as part of the partnership, Phoenix Group and IOPn have committed to investing USD$100 million into the Emirate of Ras al Khaimah by 2030 leveraging RAK DAO’s infrastructure. This huge investment underscores Phoenix Group and IOPn’s dedication to stimulating innovation and attracting top-tier professionals to the region within the Web3 space.
According to Industry sources, The partnership seeks to target, encourage and attract highly-skilled individuals in Web3, crypto, blockchain, and developer domains to the region. Phoenix Group and IOPn aim to enrich the local talent pool by leveraging initiatives such as the Golden Visa programs and RAK DAO business licenses through investment. By nurturing top-tier talent, RAK DAO, Phoenix Group, and IOPn seek to create a thriving ecosystem that harnesses cutting-edge technologies – including blockchain, spatial, and cognitive solutions for economic development and sustainability.
Dr. Sameer Al Ansari, CEO of RAK DAO has expressed, “We are thrilled to welcome Phoenix Group and IOPn as RAK DAO’s Ecosystem Partners. The $100 million investment marks a significant milestone in our mission to establish Ras al Khaimah as a premier destination for Web3 innovation and talent. By leveraging Phoenix Group and IOPn’s expertise and resources, we are poised to further enrich our dynamic ecosystem that fosters cutting-edge technologies and attracts the brightest minds in the blockchain and digital asset sectors. This collaboration underscores our commitment to driving economic growth and sustainability through technological advancements. We look forward to welcoming top-tier professionals and pioneering initiatives that will redefine the digital landscape of Ras al Khaimah.”
Mr. Seyed Mohammad Alizadehfard (Bijan), Co-founder & Group CEO of Phoenix Group, elaborated on the new strategic dimensions of the partnership, stating, “Our joint venture marks a pivotal expansion of our commitment to blockchain infrastructure aimed at enhancing the technological landscape in Ras al Khaimah. Our partnership will not only drive innovation but also strategically position the Emirate as a leading center for blockchain excellence globally.”
Mr. Mojtaba Asadian, Founder and CEO of IOPn, added: “IOPn builds on the visionary leadership of Ras Al Khaimah and the supporting environment created by RAK DAO to provide a unique opportunity for top-rated world talent to innovate and create value. IOPn is doing this by offering a powerful new Web 3.0 ecosystem and using the significant proven capabilities of Phoenix Group. We’re thrilled to be embarking upon this partnership with RAK DAO in collaboration with Phoenix Group.”
Industry sources further added that the six-year partnership and substantial investment underscore their dedication to stimulating innovation and attracting top-tier professionals. At the heart of this collaboration lies a commitment to access and nurture top-tier talent within the blockchain and Web3 industries. By enriching the local talent pool and fostering an environment conducive to innovation, RAK DAO, Phoenix Group, and IOPN aim to drive forward-thinking initiatives that redefine the landscape and highlight the Emirate of Ras al Khaimah as an attractive destination for top talent.
