DUBAI, UAE, Feb. 13, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, is proud to announce upcoming events as part of its partnership with DMCC (Dubai Multi Commodities Centre), which has been a driving force in shaping the future of the crypto and Web3 landscape, after the signing of a Memorandum of Understanding (MOU) in June 2023.
A Look Ahead
Bybit and DMCC are set to host a special side event in April, during the Token 2049 in Dubai, marking Dubai‘s ascent as a hub for digital assets. DMCC will also play a key role in Bybit’s fifth “Let Web3 Happen in Dubai” series on Feb. 19, delving into legal compliance, Decentralized Autonomous Organizations (DAOs), and Real World Assets (RWA). The partnership between Bybit and DMCC aims to elevate Dubai‘s status as a global leader in blockchain and Web3 innovation, providing support and resources to industry pioneers.
Crypto Academy: Elevating Blockchain Education
In 2023, we set a new benchmark in blockchain education with the launch of the DMCC x Bybit Masterclass, offering unparalleled entrepreneurial guidance. This year, we’re taking a giant leap forward with the introduction of the Bybit Web3 Academy. We’re excited to extend an invitation to DMCC to collaborate once more on this pioneering educational initiative.
MENA’s Largest Hackathon
Over the course of the partnership, Bybit has been DMCC’s strategic partner, directing a plethora of projects over the past year. One remarkable occasion was the “Web3 Unleashed: Crypto Innovation Challenge” hackathon in November — the largest of its kind in the MENA region and featured a $100,000 prize pool. From over 100 applicants, 10 teams showcased their innovations, covering GameFi, decentralized finance (DeFi), Web3 infrastructure, Web3 Education, and sustainable blockchain solutions during the hackathon’s final stage.
Showcasing Web3
In October 2023, at the Future Blockchain Summit in Dubai, Bybit and DMCC’s booth was more than just a display; it was a window into the concept of The Crypto Ark, where anyone who wants to be part of Web3 can find a home. Their shared space was a tangible representation of two titans in the crypto realm.
Supporting Innovation
Financial support was another cornerstone of this partnership, with Bybit committing AED 500,000 to aid 15 emerging crypto businesses. Four companies have already been connected through DMCC, with collaboration and support processes well underway. The “Web3 Unleashed: Crypto Innovation Challenge” epitomized the partnership’s impact, drawing in over 100 applicants, shortlisting 10 for the final demo day, and selecting three winners to share a prize pool sponsored by Bybit and other partners.
Ben Zhou, co-founder and CEO of Bybit, reflected on the partnership’s success, stating, “Our joint efforts with DMCC have laid the groundwork for future crypto innovators. We’ve seen firsthand the impact of fostering a supportive ecosystem where emerging talents can thrive. Bybit is committed to continually setting the stage for the next generation of crypto projects.”
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About DMCC
Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighborhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai‘s position as the place to be for global trade today and long into the future. www.dmcc.ae
About Bybit
Bybit is one of the world’s top three crypto exchanges by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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