Latest news with #RAKDigitalAssetsOasis
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
Zawya
06-02-2025
- Business
- Zawya
RAK DAO launches $2mln ‘Builder's Oasis' accelerator program to advance Web3 innovation
Ras Al Khaimah, UAE - RAK Digital Assets Oasis (RAK DAO), the UAE's leading Free Zone for digital assets companies, has announced the launch of its inaugural accelerator program, 'Builder's Oasis.' With a funding pool of $2 million, this program is designed to support Web3 startups in the gaming, AI, and blockchain infrastructure sectors. The program aims to attract over 150 global applicants, with high-potential startups to be shortlisted. Select participants are eligible for $100,000 in funding from XDC, alongside guidance from RAK DAO's network of ecosystem partners. By offering resources tailored to blockchain startups, the accelerator aims to drive meaningful advancements in decentralized technologies while fostering innovation in the MENA region. Applications for 'Builder's Oasis' will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah. These demo days will culminate in a final showcase during the weeks leading up to the upcoming TOKEN2049 in April. In addition to funding, mentorship, and hands-on support, participating startups will gain unmatched visibility among global industry leaders, investors, and stakeholders. Luc Froehlich, Chief Commercial Officer of RAK DAO, stated: 'Having worked closely with startups across the globe, I've witnessed how resources and mentorship can transform raw ideas into industry-shaping solutions. By providing funding, fast-track licensing, and a supportive community, we're paving the way for blockchain, AI, and gaming ventures to flourish in Ras Al Khaimah and beyond. Our vision is to create a global nexus of forward-thinking founders who aren't just building projects, but defining the future of decentralized technology'. The program is co-coordinated by XDC Network, a leading blockchain platform known for its focus on real-world applications in trade finance and tokenization. This collaboration emphasizes the commitment of both entities to foster a global ecosystem for blockchain innovation, leveraging their strengths to support founders in bridging the gap between ideation and market readiness. Ritesh Kakkad, Co-founder of XDC Network, commented: 'At XDC Network, we've always believed in the power of pragmatic, real-world adoption for blockchain. 'Builder's Oasis' aligns perfectly with our focus on delivering tangible solutions that bridge traditional finance and decentralized systems. Through this accelerator, we aim to empower startups to push boundaries—whether it's in trade finance, tokenization, or next-generation gaming.' 'Builder's Oasis' stands out for its unique benefits, including fast-track licensing, reduced setup costs, and seamless incorporation within RAK DAO. Startups will also benefit from tailored guidance on business setup, compliance, and market strategies, ensuring they are well-equipped to navigate the complexities of setting up an enterprise. Additionally, the program connects participants with a vibrant network of investors and collaborators, enabling access to capital and strategic partnerships. This accelerator marks a pivotal step in RAK DAO's mission to nurture forward-thinking startups while elevating the region as a center for digital innovation. Through its partnership with XDC Network, 'Builder's Oasis' seeks to equip emerging Web3 ventures with the resources, mentorship, and regulatory clarity they need to deliver meaningful impact on a global scale. Applications for 'Builder's Oasis' are now open for registration. For more information, please visit 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 XDC Network: XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via a specially delegated proof-of-stake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases, including Global Trade Finance, payment, Decentralized physical infrastructure network (DePIN) and Real World Asset (RWA) tokenization, that are secure, scalable, and highly efficient. Media Contact: Athraa Bheekoo athraa@ Luna PR OR Araminta Bloom araminta@ Luna PR
