Bybit and DMCC Extend Collaboration to Strengthen Dubai’s Crypto Ecosystem

The second-biggest cryptocurrency exchange in the world by trading volume, Bybit, announced that it and Dubai Multi Commodities Centre (DMCC) have extended their strategic collaboration. Following a year of fruitful cooperation, Bybit is excited to announce that it has transitioned from a major ecosystem partner to an advisory role, therefore enhancing its standing as a prominent player in Dubai’s booming Web3 and cryptocurrency sectors.

With this expanded collaboration, Bybit and DMCC are furthering their shared goal of supporting the expansion and advancement of the cryptocurrency industry in the region. Bybit will function as a DMCC Ecosystem and Advisory Partner from August 2024 to July 2025, offering strategic direction to the DMCC Crypto Center and its members on significant initiatives.

Enhancing Dubai’s Status as a Global Crypto Hub

This year, Bybit and DMCC Crypto Center will jointly host a flagship conference and a worldwide hackathon as two of the industry’s premier events, further solidifying Dubai’s standing as a global crypto powerhouse. The conference will promote Dubai as a hub for thought leadership by bringing together prominent opinion leaders and industry professionals, while the hackathon will foster creativity by assisting developers in creating web3 applications.

A $100,000 prize pool hackathon to help blockchain businesses, a Masterclass for prospective entrepreneurs, the security and compliance-focused “Let Web3 Happen in Dubai” event, and a high-profile side event at Token 2049 are just a few of the noteworthy accomplishments from the last year. Bybit has actively guided and sponsored more than 20 startups via these initiatives, assisting them in making a name for themselves in Dubai’s vibrant cryptocurrency scene.

Helen Liu, Chief Operating Officer at Bybit stated:

“We are honored to be the first organization appointed to this advisory role by DMCC. 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.”

Bybit will use its extensive industry knowledge to influence the development of Dubai’s Web3 and cryptocurrency sectors by assuming an advisory role. This partnership demonstrates Bybit’s steadfast dedication to advancing Dubai’s goal of becoming into a major worldwide center for Web3 and cryptocurrencies.

Belal Jassoma, Director of Ecosystems, DMCC, added:

“Bybit have been true partners over the past year, bringing substantial value to Dubai’s crypto and Web3 community. 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.”