Abu Dhabi launches $2 Billion crypto program to support Web3 and blockchain startupsAbu Dhabi’s tech ecosystem, Hub71, has launched a $2 billion project to support Web3 and blockchain technology startups. According to a press release today, this brand-new initiative called the Hub71+ Digital Assets Ecosystem would offer startups in the region different opportunities to interact with potential corporate, government, and investment entities.
The program aims to assist businesses relocating to Abu Dhabi and stimulate startup success in the Middle East and international markets.
Ahmad Ali Alwan, Deputy Chief Executive Officer of Hub71, declared that with the commencement of Hub71+ Digital Assets, Abu Dhabi is showing its receptiveness to companies that bring about revolutionary change and transformation on an international scale. He also expressed his belief in decentralization being the future of blockchain-based internet and Web3 startups playing a primary role in hastening this progress.
As the epicenter of Abu Dhabi’s Global Market financial district, Hub71 will be home to this new initiative aimed at developing and researching crypto assets. Led by First Abu Dhabi Bank (FAB) with support from cryptocurrency exchanges and service providers, this ambitious project is an example of the UAE’s long-standing commitment to fostering innovation in the crypto industry.
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