Abu Dhabi’s tech ecosystem just launched a massive $2 billion fund to support Web3 and blockchain startups in the region.
According to Press Release On February 15, Hub71 just launched Hub71+ Digital Assets – a $2 billion investment fund for blockchain and Web3 startups in the region.
Within the framework of the initiative, Hub71 will connect Web3 startups with a range of potential programs, businesses and governments, thereby aiming to promote the growth of the Middle East and global startup ecosystem.
The FABRIC Research Center of First Abu Dhabi Bank (FAB) will accompany the program. In addition, there are exchanges and crypto service providers.
The capital of the United Arab Emirates (UAE) has long been actively embracing cryptocurrencies. The city’s international financial hub introduced digital asset regulation in 2018. Back in November 2022, rumors surfaced that CZ Binance had come to Abu Dhabi to seek support for the fund. save its market.