RAK DAO X HBAR Foundation: accelerates Hedera

RAK DAO (Ras Al Khaimah Digital Assets Oasis) recently announced a partnership with the HBAR Foundation.

The HBAR Foundation released an official post to confirm the partnership. As per the post, the parties have signed an MOU (Memorandum of Understanding) to carry out the collaboration. They have joined hands to boost the growth of Hedera in the United States of Emirates.

The collaboration will see the HBAR Foundation supporting RAK DAO members to use blockchain and build apps and economies across Hedera. As the most well-known enterprise-grade public network in the region, Hedera has massive market control in the UAE.

With this step, RAK DAO has established its first operational relationship. The partnership merges the resources and expertise of both platforms, offering streamlined and direct access to Hedera’s benefits.

These perks include an extensive grand program, expert support access technology, financial backing, support to scale adoption, and business & marketing development in Web3. His Highness Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi also talked about the development. According to the Chairman of RAK DAO, by enabling and developing the world’s first regulated Web3 ecosystem, RAK DAO is connecting businesses, making way for synergistic relationships, and offering a seamless exchange of data.

The partnership between the HBAR Foundation and RAK DAO is an absolute testament to the shared commitment to enabling sustainable growth. It will lead to a future where RAK DAO becomes the global leader in the virtual economy, added His Highness.

The collaboration will see the parties spearheading multiple initiatives, especially in the Digital Assets Oasis ecosystem. It includes standard startup and scale-up pitching. Seeing how UAE has become the hub for Web3 innovation, the parties will certainly play a major role in its progression.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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