Bybit and DMCC signed an MOU in June 2023. The purpose was to commit to growing the landscape of crypto and Web3 while also helping Dubai become a global hub in the segment. Dubai Multi Commodities Centre has been a driving force in shaping the future of innovative technologies, and it is only natural for both to continue this partnership in the times to come.
Moving forward, Bybit and DMCC are jointly hosting two events in Dubai. The first to happen is Let Web3 Happen in Dubai on February 19 this year. The event is in its fifth installment and will deal with imperative aspects of legal compliance, real-world assets, and decentralized autonomous organizations. Token 2049, a side event happening in April, will come after that. Dubai is primarily tasked with providing resources and support to industry pioneers.
Both events that are about to happen in the next 2–3 months are based on the success of what partners have achieved in the past.
For instance, Bybit assisted DMCC in hosting Web3 Unleashed: Crypto Innovation Challenge. The hackathon happened in November and featured a prize pool worth $100,000. More than a hundred applicants participated, and ten teams displayed their innovation. Sections covered were DeFi, GameFi, and Web3 Education, to mention a few.
Hosting the hackathon has now been defined as a remarkable occasion.
Headquartered in Singapore, Bybit does a fine job of cooperating with relevant authorities in different regions. It does not have a native token but does support more than 20 fiat currencies and several cryptocurrencies. Details about its platform can be read in the Bybit Exchange review, which further sheds light on its features.
The previous year was also a benchmark because both partners launched a masterclass. Its aim was, or rather still is, to offer entrepreneurial guidance via Bybit Web3 Academy. Next was the Future Blockchain Summit in October 2023. Bybit and DMCC both came together to put up a booth where visitors could sneak peek into the world of The Crypto Ark.
Their partnership further backed 15 emerging crypto businesses by committing financial assistance worth AED 500,000.
Ben Zhou has reflected on the partnership, citing that they have jointly laid the foundational groundwork for the upcoming innovators in the crypto sphere. The co-founder and chief executive officer of Bybit further highlighted that the impact of the support has been witnessed firsthand by them, adding that they are now committed to setting the stage for the coming generation of crypto projects.
As for Bybit as a platform, it is emerging as a preferred destination for users. They can start trading on the platform without having to complete their KYC process. Bybit offers a desktop and mobile trading option, strengthening its position in the market.
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