RAK Digital Assets Oasis, a free zone for crypto companies in the United Arab Emirates,

 

RAK Digital Assets Oasis, a free zone for crypto companies in the United Arab Emirates, signed a memorandum of understanding with the HBAR Foundation to create a grant program for startups developing in the Hedera blockchain. Free zones in the UAE enable startups to keep 100% ownership of their business within the country. "By creating and enabling the world's first licensed Web3 ecosystem, we are facilitating the seamless exchange of information, connecting businesses across sectors, and paving the way for synergistic relationships to flourish," said Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, chairman of the RAK DAO.  The program seeks to support startups with marketing, business development, and technology. Crypto companies such as Coinbase, Binance, and Gemini have recently expressed interest in the UAE amid regulatory uncertainty in the U.S.