TLDR:
- Announcement: Solana Foundation entered into a Memorandum of Understanding (MoU) with Dubai’s Virtual Assets Regulatory Authority (VARA) on June 03, 2025, to further the collaboration towards talent development, economic data exchange, and founder support, with a view to further promoting the Solana Economic Zone in the Dubai emirate.
The Solana Foundation has taken another key step towards increasing its global presence with the Virtual Assets Regulatory Authority of Dubai inking an MoU on June 03, 2025. The association is opening the door for the close collaboration between regulators and crypto builders on several key areas to push the blockchain ecosystem forward.
The MoU envisages an economic impact and sector data exchange system, talent incubation, founders workshops, and advisory sessions. All of them are to facilitate the realization of the Solana Economic Zone in Dubai, the destination to attract innovators and investors to the UAE’s booming crypto economy. The collaboration is opportune, with the position of Dubai having already been cemented to rank among the most crypto-friendly cities across the globe, making the ideal partner now available for expansion to Solana.
The talent development programs would focus on creating the next generation of professionals for blockchain so there is an ongoing stream of qualified professionals to drive innovation. Economic impact and industrial data exchange would provide actionable information to enable informed decision-making on both ends, so they can scale their projects for the ecosystem’s good. Advisory workshops and sessions would provide founders instant access to regulatory transparency and market potential to enable them to scale their projects in a supportive framework.
The collaboration leverages Dubai’s forward-thinking regulatory system and vision to become the global leader for virtual assets. This MoU would create the Solana Economic Zone in Dubai, where entrepreneurs and builders would have the opportunity to create and scale Web3 businesses. The collaboration is looking to capitalize on growth happening in Dubai, where the positive sentiment around the blockchain ecosystem has already attracted numerous blockchain projects to the city, re-establishing it as the central global hub for the crypto economy.
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