His Highness Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, the chairman of RAK DAO, said that the collaboration will allow the UAE emirate of Ras Al Khaimah to emerge as a global leader in digital economy.
RAK Digital Assets Oasis , a free zone in the United Arab Emirates dedicated to crypto companies, has signed a memorandum of understanding with the HBAR Foundation to support its ecosystem members through a grant program and by providing assistance in leveraging the Hedera blockchain.
In an announcement sent to Cointelegraph, His Highness Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, the chairman of RAK DAO, said that the collaboration with HBAR Foundation will drive sustainable growth for the ecosystem and will shape a future where the UAE emirate of Ras Al Khaimah will emerge as a"global leader in the digital economy." He said:
“By creating and enabling the world’s first licensed Web3 ecosystem, we are facilitating the seamless exchange of information, connecting businesses across sectors, and paving the way for synergistic relationships to flourish.” According to the announcement, the collaboration will give startups access to a comprehensive grant program and specialized support in the areas of technology, marketing and business development. This also aims to scale adoption for new ideas in the Web3 space. The two organizations will also create other initiatives including startup pitching sessions, and launch joint projects such as venture studios or accelerators.
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