5 November 2024, Tue |
5:38 PM
Korean blockchain developer WEMIX and Hub71, Abu Dhabi’s global tech ecosystem, have signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups.
As part of the partnership, WEMIX startups will have the opportunity to join Hub71’s community of over 200 startups and gain access to its range of value-add programs and incentives. Select startups will also benefit from the ability to scale globally through Hub71’s web3 and digital assets specialist ecosystem, Hub71+ Digital Assets, to unlock access to a host of programs, initiatives, and wide network of corporate, government and investment partners in the UAE and global markets. At the same time, startups within Hub71+ Digital Assets will be able to leverage the deep technical knowledge and expertise of WEMIX and its parent, Wemade, in different areas of blockchain technology including GameFi and DeFi.
“Developing strong partnerships with key stakeholders like Hub71 is an important part of our commitment to growing the blockchain ecosystem in the MENA region,” said Shane Kim, CEO of WEMIX Pte Ltd. “We are confident that this partnership will accelerate the creation of more opportunities for blockchain startups from across the world looking to expand into the Middle East and help realize our vision of developing a global blockchain economy powered by a wide spectrum of innovative applications that evolve past traditional technology barriers to drive sustainable future innovation.”
Elodie Robin Guillerm, Head of Growth and Strategy at Hub71, said: “The addition of WEMIX to our Hub71+ Digital Assets ecosystem is testament to the growth potential there is to be seized from Abu Dhabi. Hub71 truly values partnership and collaboration and by joining forces with leading blockchain companies like WEMIX, we can work together towards developing industry leading blockchain technologies to give rise to more opportunities for Web3 startups.”
The WEMIX and Hub71 partnership will offer key advantages including:
Facilitate access for Hub71 startups to access WEMIX’s global Web3 community
WEMADE, the parent of WEMIX, oversees a global portfolio of strategic investments that include India-based Shardeum – the world’s first EVM (Ethereum Virtual Machine)-based sharded blockchain mainnet; Metaverse Magna (MVM), Africa’s first and biggest gaming DAO; and Kasa, a blockchain-based digital asset-backed securities (DABS) trading platform with a focus on prop-tech. Most recently, WEMADE signed a strategic MoU with Haskey Capital – a global asset manager investing exclusively in blockchain technology and digital assets which manages over US$1 billion in client assets since its inception – to jointly nurture promising Asian blockchain companies.
Hub71+ is a specialist ecosystem dedicated to advancing specific technology sectors. The first Hub71+ to launch is ‘Hub71+ Digital Assets’ – focused on unleashing the disruptive potential of Web3 and the growth of digital assets. Hub71+ Digital Assets is based at Hub71 in Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, which offers world-class blockchain and virtual asset infrastructure
“This marks another milestone in WEMIX’s expansion in the Middle East following the opening of its first office in the region, as we further tap into the vibrant energy and positive industry support in one of the world’s fastest growing regions for blockchain technology.” added Kim.
