Crypto exchange Bybit signs MoU with DMCC

Dubai-based crypto exchange Bybit has signed a memorandum of understanding with the Dubai Multi Commodities Centre (DMCC) in a bid to increase the adoption of digital assets in the region.

As part of the agreement, Bybit will become a partner of the DMCC Crypto Centre, which it describes as “the largest concentration of crypto and Wed3 businesses in the region”.

Bybit will serve as the DMCC’s crypto listing partner and will also assist in a number of blockchain projects.

The crypto exchange has also pledged US$136,000 to fund 15 selected Web3 startups.

The MoU comes weeks after Bybit unveiled its Dubai headquarters. At the time, it alluded to “further localisation efforts in the region”.

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