In collaboration with FABRIC, the research and innovation centre of First Abu Dhabi Bank (FAB), the ecosystem will advance a decentralised online space in Abu Dhabi.
If your startup has been looking to break into the new age, this latest initiative might just be the ticket.
Hub71, Abu Dhabi’s tech ecosystem, has launched a new initiative called Hub71+ Digital Assets.
This ecosystem is dedicated to advancing Web3, a decentralised online space built on innovations like blockchain technology and metaverse applications. Currently, over US$2 billion of capital is committed to fund Web3 startups and blockchain technologies in Abu Dhabi.
Hub71+ Digital Assets will offer Web3 startups access to an extensive range of programmes, initiatives, and corporate, government, and investment partners in the UAE and global markets.
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The initiative will be based at Hub71 in Abu Dhabi Global Market (ADGM), providing Web3 startups with a progressive regulatory environment and world-class blockchain and virtual asset infrastructure.
FABRIC, the research and innovation centre of First Abu Dhabi Bank (FAB), is the anchor partner of Hub71+ Digital Assets, while digital asset exchanges and service providers are part of the initiative to facilitate the discovery, trading and custody of digital assets.
The launch of Hub71+ Digital Assets represents Abu Dhabi’s openness to disruptive businesses that drive change and transformation on a global scale. With decentralisation being the future of the blockchain-based internet, Web3 startups can play a significant and more efficient role in accelerating this transition.
According to Dhaher bin Dhaher Al Mheiri, CEO of ADGM, the launch of Hub71+ Digital Assets will strengthen the association between ADGM and Hub71.
Moreover, Hub71’s value creation programme will support business relocation to Abu Dhabi and growth in the Middle East and global markets, including Web3 startups at the ‘unicorn’ stage, which are companies valued at more than $1 billion.
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