Bybit Partners with DMCC to Drive Crypto and Web3 Adoption in Dubai
Bybit, one of the world’s leading cryptocurrency exchanges, has formed a strategic partnership with Dubai Multi Commodities Centre (DMCC) to accelerate the adoption of cryptocurrencies and Web3 technologies in Dubai. The collaboration establishes Bybit as an official Ecosystem Partner for the DMCC Crypto Centre, the largest concentration of crypto and Web3 businesses in the MENA region. This partnership aims to foster innovation, provide financial support, and offer technical expertise to empower startups in the crypto and Web3 space.
Bybit and DMCC signed a Memorandum of Understanding (MOU) to support the growth of the regional crypto community. As part of the agreement, Bybit will contribute AED 500,000 to support the development of 15 new Web3 companies at the DMCC Crypto Centre. Startups must meet compliance and due diligence requirements to qualify for this opportunity.
Bybit will serve as DMCC’s crypto listing partner and provide guidance and advisory support for blockchain-related projects. The exchange will actively participate in the DMCC Crypto Centre, sharing insights and technical knowledge to help young projects succeed and get listed on the Bybit platform. Additionally, Bybit plans to organize hackathons, bringing together developers, entrepreneurs, and industry experts to foster groundbreaking ideas in the crypto and Web3 industries.
Through this partnership, Bybit gains access to DMCC’s extensive network of technology partners, government bodies, investors, and service providers, facilitating further collaboration and connectivity within the blockchain-based ecosystem. Bybit will also contribute to knowledge sharing and capacity building in the digital economy through webinars, courses, educational content, and awareness campaigns.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive of DMCC, expressed excitement about the partnership, highlighting Dubai’s growing prominence as a global hub for crypto and Web3. Ben Zhou, co-founder and CEO of Bybit, emphasized their commitment to enriching the Web3 ecosystem and supporting innovation in the digital economy.
This partnership between Bybit and DMCC signifies a significant step towards the development of a thriving blockchain hub in Dubai, fostering collaboration and advancing the adoption of crypto and Web3 technologies in the region.