The Solana Foundation has signed a Memorandum of Understanding (MOU) with the Dubai Virtual Assets Regulatory Authority (VARA), marking an important step for the development of the blockchain ecosystem in the region. This collaboration aims to deepen interaction between cryptocurrency developers and regulators, fostering innovation in the Web3 space. Key areas of the partnership include talent development programs, economic data sharing, conducting workshops, and advisory sessions for founders. Additionally, the initiative supports the establishment of the Solana Economic Zone in Dubai—a hub for startups and companies working with blockchain technologies.
This agreement strengthens Dubai's position as a global leader in the field of digital assets, attracting developers, investors, and policymakers. The Solana Economic Zone will become a platform for accelerating project launches, providing a stable regulatory environment and resources for development. According to Solana representatives, the partnership will help integrate blockchain projects into the regional economy, leveraging Dubai's logistical and financial advantages.
Despite the announcement, the price $SOL remains stable, fluctuating around $160. This partnership highlights Solana's ambitions for global expansion and integration with traditional finance.
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