Bybit and DMCC signed an MOU in June 2023. The aim was to grow the cryptocurrency and Web3 landscape while helping Dubai become a global hub for the sector. Dubai Multi Commodities Center has been a driving force in shaping the future of innovative technology, and it is natural for the two companies to continue this partnership going forward.
In the future, Bybit and DMCC plan to jointly host two events in Dubai. The first thing that happens is Make Web3 a reality in Dubai February 19th of this year. This is the fifth event and will cover essential aspects of legal compliance, real assets, and decentralized autonomous organizations. After that, a side event called Token 2049 will be held in April. Dubai is primarily tasked with providing resources and support to industry pioneers.
Both events, which will take place in the next two to three months, build on the successes the partners have achieved in the past.
For example, Bybit helped host DMCC. Web3 Unleashed: Cryptocurrency Innovation Challenge. The hackathon took place in November and featured $100,000 in prize money. More than 100 applicants participated, and 10 teams presented their innovations. The sections covered were DeFi, GameFi, and Web3 Education.
Hosting a hackathon is now defined as: noteworthy event.
Headquartered in Singapore, Bybit is adept at cooperating with relevant authorities in various regions. There is no native token, but it supports over 20 fiat currencies and several cryptocurrencies. You can read more about the platform here: Bybit Exchange ReviewIt further illuminates its function.
The previous year was also a benchmark as both partners had started masterclasses. The goal was to provide entrepreneurial guidance through the Bybit Web3 Academy. Next up was the Future Blockchain Summit in October 2023. Bybit and DMCC come together A booth where visitors can get a glimpse of the world Crypto Arc.
Their partnership further supported 15 emerging cryptocurrency companies by pledging AED 500,000 worth of financial support.
Ben Zhou reflected on the partnership, noting that they have jointly laid the groundwork for upcoming innovators in the cryptocurrency space. Bybit’s co-founder and CEO emphasized that he has seen the impact of the support first-hand and is now committed to setting the stage for the next generation of cryptocurrency projects.
As a platform, Bybit is emerging as a preferred destination for users. They can start trading on the platform without completing the KYC process. Bybit strengthens its presence in the market by offering desktop and mobile trading options.