Recently, Dubai has been actively participating in the cryptocurrency market, signing new partnerships to support startups and develop the virtual asset ecosystem.
Partnership with Sui Network
Sui Network (SUI) has announced its collaboration with Dubai to support startups and grow the crypto ecosystem. This partnership was made possible through the Dubai Virtual Assets Regulatory Authority (VARA). 'Big news from the Middle East. Sui Dubai is proud to partner with VARA to support startups, nurture local talent, and grow the virtual asset ecosystem together,' the network stated.
Goals of Collaboration
Through this partnership, Sui aims to support startups, promote local talent, and contribute to the growth of the virtual asset ecosystem in the region. A SuiHub MENA will be established to support builders and developers in the web3 ecosystem. Together, they will engage in activities to simplify compliance processes for startups, provide advisory support, and generate insights to guide future virtual asset policies in the region.
Other Recent Dubai Partnerships
Recently, the layer-1 blockchain Solana (SOL) also announced that it has signed a Memorandum of Understanding (MOU) with VARA to promote close collaboration between crypto developers and regulators.
The partnership between Sui Network and Dubai underscores the growing interest in developing the crypto ecosystem in the region, opening new opportunities for startups and local developers.
