UAE Hub71 launches $2 billion blockchain digital asset initiative to fund startups
Abu Dhabi' Hub71, the technology ecosystem in UAE has launched the Hub71+ Digital Assets. This ecosystem is dedicated to advancing Web3, a decentralized online space built on innovations like blockchain technology and metaverse applications. The ecosystem has over US$2 billion of capital committed to fund Web3 startups and blockchain technologies in Abu Dhabi. Hub71+ Digital Assets will offer Web3 startups access to an extensive range of programs, initiatives, and corporate, government, and investment partners in the UAE and global markets. The initiative will be based at Hub71 in Abu Dhabi Global Market (ADGM), providing Web3 startups with a progressive regulatory environment and world-class blockchain and virtual asset infrastructure. FABRIC, is the the research and innovation center of First Abu Dhabi Bank (FAB), will be the anchor partner of Hub71+ Digital Assets, while digital asset exchanges and service providers are part of the initiative to facilitate the discovery, tra