The Dubai Multi Commodities Center (DMCC) has recently announced the extension of its strategic partnership with Bybit, the world’s second-largest cryptocurrency exchange by trading volume, after a year of successful collaboration. Under the partnership, Bybit will assume a new advisory role, solidifying its position as a leading force in Dubai’s thriving crypto and Web3 industry.
From August 2024 to July 2025, Bybit will serve as a DMCC Ecosystem and Advisory Partner, providing strategic guidance to the DMCC Crypto Center and its members on key initiatives.
Key initiatives
To further accelerate Dubai’s position as a global crypto hub, Bybit and the DMCC Crypto Center will co-organize two major industry events this year: a global hackathon and a flagship conference. The hackathon aims to nurture innovation by supporting developers in building web3 projects. Meanwhile, the conference will position Dubai as a thought leadership center by bringing together industry experts and key opinion leaders.
Last year, Bybit and DMCC marked notable achievements, including a $100,000 prize pool hackathon to support blockchain startups. The two entities also held a masterclass for aspiring entrepreneurs, the “Let Web3 Happen in Dubai” event which focused on security and compliance, and a high-profile side event at Token 2049.
Bybit also supported and advised over 20 startups, helping them establish a foothold in Dubai’s dynamic crypto landscape.
“We are thrilled to expand this through Bybit’s advisory role, which will support our Crypto Centre members in new ways as they look to scale their crypto businesses and tap into some of the world’s most exciting markets,” stated Belal Jassoma, Director of Ecosystems, DMCC.
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Dubai, a global crypto hub
In its new role, the crypto exchange will leverage its deep industry expertise to shape the future of Dubai’s crypto and Web3 industry. Thus, the collaboration with DMCC underscores the exchange’s commitment to supporting Dubai’s vision of becoming a global crypto and Web3 hub.
“By taking on an advisory role, we are excited to leverage our expertise to drive innovation and support the growth of the industry in Dubai,” stated Helen Liu, chief operating officer at Bybit.
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