Latest news with #SuiHubMENA
Arabian Post
3 days ago
- Business
- Arabian Post
Sui and VARA Forge Alliance to Propel Dubai's Crypto Startups
Dubai's Virtual Assets Regulatory Authority has entered into a strategic partnership with SuiHub MENA, the regional arm of the Sui blockchain ecosystem, to bolster the emirate's position as a global hub for virtual assets. The collaboration aims to support emerging startups, nurture local talent, and provide regulatory guidance within the blockchain sector. The agreement, formalised earlier this week, outlines a multifaceted approach to ecosystem development. Key initiatives include jointly hosted workshops to assist startups in navigating Dubai's licensing regime, educational programs to cultivate local expertise in blockchain technology, and the establishment of advisory sessions to offer compliance support. These efforts are designed to streamline the path to market for new ventures and enhance the overall maturity of the virtual asset landscape in the region. SuiHub MENA's innovation centre in Dubai will serve as the focal point for these activities, with VARA providing strategic support through roundtables and engagements with government stakeholders. The partnership also encompasses collaborative research opportunities aimed at informing future virtual asset policies and contributing to the sustainable growth of the sector. ADVERTISEMENT This alliance follows a similar memorandum of understanding signed between VARA and the Solana Foundation, reflecting Dubai's commitment to fostering a conducive environment for blockchain innovation. By aligning regulatory clarity with technological advancement, these partnerships underscore the emirate's proactive stance in embracing the potential of virtual assets while ensuring robust governance frameworks are in place.
Yahoo
29-04-2025
- Business
- Yahoo
RAK DAO partners with SuiHub MENA to capitalize on the UAE's web3 growth momentum
Dubai, United Arab Emirates, April 29, 2025 (GLOBE NEWSWIRE) -- RAK Digital Assets Oasis (RAK DAO), the UAE's pioneering Free Zone dedicated to digital assets and blockchain enterprises, today announced a strategic partnership with SuiHub MENA, the regional innovation hub supporting the growth and scaling of startups within the Sui blockchain ecosystem. Through this collaboration, RAK DAO will serve as an official partner for the SuiHub MENA Accelerator Program, providing entities with the resources and support to tap into the region's regulatory and licensing infrastructure. In a significant expansion of its global footprint, Sui selected Dubai in 2024 as its inaugural location for the first SuiHub, aligning with the Emirate's progressive approach to digital innovation. RAK DAO's ecosystem is already home to over 500 Web3 companies spanning GameFi, NFTs, non-custodial wallets, proprietary trading firms, and Decentralized Autonomous Organizations (DAOs). Kristof Lukovich, CEO of SuiHub MENA, stated, 'SuiHub MENA's partnership with RAK DAO presents a unique opportunity for startups to work in a supportive environment where they can focus on their growth. We believe that by building strong, long-term strategic collaborations with Govt. entities, regulatory bodies, and licensing authorities, we are positively contributing to helping the ecosystem further develop here in the UAE. We are proud of our partners and are delighted to formalize our collaboration with RAK DAO.' Luc Froehlich, Chief Commercial Officer at RAK DAO, emphasized the strategic alignment behind this partnership, saying, "The esteemed presence at this signing highlights the strategic importance of our partnership with SuiHub MENA. Together, we are strengthening the UAE's global reputation as a magnet for blockchain innovation and talent. This collaboration significantly accelerates the journey of Sui ecosystem startups from conceptualization to scalable businesses." With Sui's ecosystem experiencing rapid institutional investment, surpassing $118 billion USD billion in total decentralized exchange (DEX) volume and nearing a billion USD in stablecoin volume, the strategic partnership positions RAK DAO at the forefront of supporting and scaling the next generation of high-growth Web3 ventures. Paul Dawalibi, CEO of RAK DAO, commented: 'The partnership with SuiHub MENA reinforces our commitment to enabling high-growth blockchain ventures with the tools and infrastructure they need to thrive. At RAK DAO, we're focused on building an ecosystem that combines regulatory clarity with global connectivity, and collaborations like this are central to that vision.' In addition, it significantly advances the UAE's leadership in digital assets and blockchain innovation, fostering increased global investment, attracting top-tier international talent, and accelerating the region's economic diversification and sustainable growth. —--About RAK DAO:RAK Digital Assets Oasis (RAK DAO) is the world's first and only Free Zone with Common Law features established to support and nurture digital assets companies. In the UAE Emirate of Ras Al Khaimah, RAK DAO offers a transparent legislative framework that simplifies the process of opening and operating digital assets companies. By fostering a vibrant ecosystem and providing comprehensive services, RAK DAO drives the future of emerging sectors, propelling innovation, and unlocking the potential of digital assets. About SuiHub MENASuiHub MENA is a premier regional blockchain innovation hub specializing in ecosystem development and offering both acceleration and youth programs. Powered by the Sui Network, SuiHub offers cutting-edge resources and expertise to enable startups and enterprises to harness the full potential of blockchain technology. With a broad reach and a deep commitment to fostering innovation, SuiHub MENA helps bridge the gap between visionary ideas and real-world impact. About SuiSui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. Learn more at Media Inquires:sui@ in to access your portfolio
