Fri, Dec 27, 2024 | Jumada al-Aakhirah 26, 1446 | DXB ktweather icon0°C

DMCC welcomes crypto-giant Bybit

Ecosystem partner to accelerate mass adoption of Crypto, Web3 in Dubai

Published: Mon 5 Jun 2023, 5:08 PM

  • By
  • WAM

Top Stories

Ahmed Bin Sulayem, executive chairman and chief executive of DMCC, signs the agreement with Ben Zhou, Co-Founder and CEO of Bybit.— WAM

Ahmed Bin Sulayem, executive chairman and chief executive of DMCC, signs the agreement with Ben Zhou, Co-Founder and CEO of Bybit.— WAM

Dubai Multi Commodities Centre (DMCC) has partnered with global crypto giant Bybit, in which the exchange will provide financial support totalling Dh500,000 for new crypto businesses looking to set up at the region’s largest community of Web3 and blockchain businesses – the DMCC Crypto Centre.

Bybit will become the listing partner for the crypto centre, with the company providing dedicated support for crypto firms looking to list digital assets on one of the top global exchanges. Additionally, the partnership will bring Bybit services to crypto centre members. Headquartered in Dubai, Bybit is the world’s third most visited crypto exchange with over 15 million users.

As DMCC looks to further enhance the support available to members of the crypto centre, Bybit will also participate in the DMCC Crypto Centre’s educational initiatives by delivering webinars and educational courses about the digital assets industry and emerging trends, centralised exchanges and their impact in shaping the Web3 industry.

Ahmed Bin Sulayem, executive chairman and chief executive of DMCC, said: “Dubai has truly cemented its position as a global hub for crypto and Web3, with the DMCC Crypto Centre boasting the highest concentration of crypto firms in the region. This status has only been bolstered by Bybit’s presence, so we are excited to have them on board as an official ecosystem partner. Thanks to Bybit’s industry-leading expertise and financial contribution, this partnership will accelerate the impact that Dubai’s game-changing crypto and Web3 businesses are having on the industry.”

Ben Zhou, Co-Founder and CEO of Bybit, said: “Through the efforts of entities such as DMCC, Dubai has certainly become a global focal point for the crypto industry. The emirate is full of high-potential Web3 businesses, so we are proud to be working with DMCC to facilitate their success and continue the evolution of the crypto industry and global digital economy. By bringing our standard of transparency, listing and custodial expertise and services to crypto centre members, we can have a tangible impact on Dubai’s future as the crypto capital and deliver on our aim to be the world’s’Crypto Ark’.”

The DMCC Crypto Centre is a comprehensive ecosystem for companies that develop Web3 and blockchain projects, and associated value-added services, providing everything that crypto businesses and entrepreneurs need to set up an scale their operations. The DMCC Crypto Centre is home to over 550 businesses operating in the Web3 and blockchain space.



Next Story