Abu Dhabi’s tech ecosystem Hub71 has launched a new $2 billion fund to support Web3 and blockchain initiatives.
Based in Abu Dhabi, according to information recently shared by local news agencies. hub71in the region Web3 And blockchain technology to support their initiatives $2 billion started a new fund.
The main partner of this fundraising-based program First Abu Dhabi Bank (FAB) research and development center FABRIC it happened. On the other hand, many Abu Dhabi-based digital asset exchanges and service providers have also taken their place as part of the initiative.
Suhail Bin Tarraf, FAB Group Operations Director, stated that this step was in line with the “Customer First” policies and NFT, metaverse, Web3 He stated that they will not deprive them of the services of the future.
Hub71 Deputy General Manager Ahmad Ali AlwanHe stated that the launch of Hub71+ Digital Assets represents Abu Dhabi’s change and transformation on a global scale.
According to the details shared, the fund will give startups access to a wide range of technology programs, government and investment partners. In addition, the initiative will support businesses relocating to Abu Dhabi and act in cooperation with the Middle East. will strive for their growth in global markets.