Dubai’s free trade zone DMCC has partnered with a government trade body and a web3 incubator to launch a blockchain and web3 accelerator.
The initiative is designed to attract more crypto firms to Dubai.
It will operate through the existing DMCC Crypto Centre and involve the Government of Dubai Authority in commodities trade and enterprise as well as incubator TDeFi.
“Supporting Web3 and blockchain businesses is a key priority for DMCC as we build on the success that the Crypto Centre has seen since its launch,” said Ahmed Bin Sulayem, DMCC executive chairman and CEO.
The move comes just weeks after Abu Dhabi launched its own digital assets initiative involving tech accelerator Hub71 and a US$2 billion fund focused on web3 and digital assets startups.
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