According to the website - By Coincu
On June 23, the Solana Foundation announced a partnership with Kazakhstan to create an economic zone focused on Web3.
This initiative aims to strengthen Web3 technology, attract blockchain companies to Kazakhstan, and institutional investments.
Solana and Kazakhstan will improve Web3 infrastructure
The Solana Foundation plans to create a Solana economic zone in Kazakhstan, which is supported by the Ministry of Digital Development. This partnership includes the development of tokenized capital markets and infrastructure for Web3 enterprises.
The collaboration focuses on educational programs and business incentives for integrating Web3 tools into traditional conditions. The Solana economic zone will be funded through public and private investments in the country.
Market reaction highlights the growing interest in institutional funding, signaling potential discussions around ETFs. The collaboration has yet to lead to changes in the blockchain; however, it is expected to result in significant DeFi growth after integration.
Kazakhstan targets global companies with the Web3 economic zone
Did you know? The strategic alignment between Kazakhstan and Solana reflects the historical steps of countries like Singapore that have effectively attracted blockchain talent through favorable policies.
According to CoinMarketCap, the current price of Solana is $134.12 with a market capitalization of $71.25 billion, providing a market dominance of 2.28%. Recent trading activity shows an 18.97% increase in 24-hour volume, although the price has fallen by -0.47% over the same period.
The Coincu research team suggests that this initiative could significantly impact the regulatory framework in the blockchain sector, encouraging centralized political support, fostering technological advancement, and attracting institutional investors.
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