The Solana Foundation has become an ecosystem partner for the free economic zone, Dubai Multi Commodities Centre (DMCC), amid the United Arab Emirates crypto, blockchain, and Web3 push.

Under the deal, the foundation, which handles the development and maintenance of the Solana network, will provide technical and business development support to DMCC Crypto Centre members, the Oct. 15 announcement said. In addition to extending support to the Solana Foundation’s grant programs to companies within the free zone, the organization will deliver webinars and educational courses on various Web3 topics.

DMCC, in turn, will provide Solana access to its ecosystem advantages, which allows the foundation to collaborate with over 23,000 companies operating in the free zone’s business district. Ahmed Bin Sulayem, the center’s chief executive, said:

“We will provide complimentary setup and business licensing for Solana ecosystem projects whilst our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights.”

Solana joins DMCC’s other ecosystem partners, including crypto exchange Bybit, digital asset market maker DWF Labs, and Web3 incubator TDeFi, among others.

Solana Foundation Executive Director Dan Albert noted that the DMCC’s “high density of crypto companies and pro-growth attitude” was appealing to the organization as it looks to tap into Dubai’s Web3 market.

By September 2023, the Solana network reportedly had occupied the global 10th spot in terms of the total value locked, with an equivalent of roughly $359 million. Meanwhile, its native token, Solana (SOL), sits among the top 10 coins by market capitalization, with over $10 billion.

Some of the UAE’s more than 40 free zones, including the DMCC, Abu Dhabi Global Market (ADGM), and the Dubai International Financial Centre (DIFC), have been welcoming Web3 companies in recent years to boost the country’s investment climate.

Notably, the ADGM was among the first to introduce a virtual asset regulatory framework in the region.

Joining this growing list of crypto-friendly free zones is the Ras Al Khaimah Digital Assets Oasis, which was initially unveiled earlier this year. RAK DAO will be a central hub for companies dealing with emerging technologies, including crypto, blockchain, Web3, and AI.