Bybit, the third most visited cryptocurrency exchange globally, has announced a strategic collaboration with the Dubai Multi Commodities Centre (DMCC), a leading global business district. The partnership aims to accelerate the mass adoption of cryptocurrencies in Dubai and fulfill Bybit’s commitment to investing in the Web3 ecosystem within the emirate. As part of the collaboration, Bybit will become an official Ecosystem Partner for the DMCC Crypto Centre, the MENA region’s largest concentration of crypto and Web3 businesses.
By signing a Memorandum of Understanding (MOU), Bybit and DMCC are joining forces to support the growth of the crypto community in the region. This agreement follows Bybit’s recent establishment of its global headquarters in Dubai and reflects its intention to further localize its efforts in the area.
Under the MOU, Bybit will provide financial support of AED 500,000 to help kickstart the growth of 15 new Web3 companies at the DMCC Crypto Centre. Start-ups interested in this opportunity must undergo standard compliance and due diligence checks required by DMCC to qualify.