Bybit, the world’s second-largest cryptocurrency exchange by trading volume, augmented its current strategic partnership with Dubai Multi Commodities Centre, DMCC. This will move Bybit from a key ecosystem partner to an advisory role, yet another high-water mark in its commitment to innovation and growth within Dubai’s vibrant crypto and Web3 industry. This cooperation will mean that, in the next year, Bybit will be one of the real drivers in shaping the crypto scene in Dubai and further putting the city forefront globally in terms of cryptocurrency.
Evolving with forward-thinking regulations and a vibrant entrepreneurial ecosystem, Dubai has emerged incredibly fast as the central hub for blockchain technology and cryptocurrency. Several blockchain startups and established players worldwide have been drawn to the city for this strategic location, and initiatives have been taken. Bybit’s involvement has, therefore, been instrumental in nurturing this environment by delivering financial support and critical advisory services that guide startups through the intricate environment of the Dubai crypto scene.
Bybit’s New Advisory Role in the Dubai Crypto Scene
The fact that Bybit is entering an advisory role further cements Bybit’s commitment to the Dubai crypto scene. From August 2024 to July 2025, it will serve as an Ecosystem and Advisory Partner at DMCC and provide strategic input of immense value to the DMCC Crypto Center and its members. This partnership looks to establish the future of the regional crypto ecosystem and further entrench the position of Dubai as a global hub for cryptocurrency and blockchain innovation. In this new role, Bybit will directly reach out to key stakeholders from Dubai’s crypto scene to shape policies and strategies to further move the industry.
According to Belal Jassoma, the director of ecosystems at DMCC, “Bybit has been a true partner over the past year and has brought significant value to the crypto and Web3 community in Dubai.” Now equipped with the advisory function, Bybit can support members of the DMCC Crypto Centre in scaling their businesses and tapping into some of the world’s most exciting markets, further enhancing the Dubai crypto scene. The cooperation between Bybit and DMCC transcends the plan of a business partnership and becomes a vision shared in the future for Dubai’s crypto scene, promising to drive innovation, create opportunities, and ultimately put Dubai on the world map within the crypto industry.
Events to Elevate the Dubai Crypto Scene
The Dubai crypto scene will get another fillip with two major events for the industry this year, which Bybit and the DMCC Crypto Center will co-organize. In line with this vision, these events will feature a global hackathon and a flagship conference, underscoring innovation and setting the seal of leadership in crypto thought leadership in Dubai. The hackathon will offer developers a platform to bring forward their Web3 projects, while the conference will be joined by industry experts and key opinion leaders discussing the future of the Dubai crypto scene. Such events are about talent showcasing, creating dialogue, and sharing knowledge to push the industry further.
The year was marked by active invigoration of the crypto scene in Dubai by Bybit through several initiatives. Notable are a prize pool hackathon supporting blockchain startups, with a total prize purse of US$100,000; a Masterclass targeting aspirant entrepreneurs; and the ‘Let Web3 Happen in Dubai’ event, focusing on security and compliance. Bybit has been at the forefront of supporting over 20 startups to roll out in Dubai’s dynamic crypto scene. These have gone through funding and the very best mentorship and guidance, which have been invaluable in assisting these start-ups in navigating the tortuous ways in the Dubai crypto scene.
Conclusion: Bybit’s Commitment to the Dubai Crypto Scene
The new advisory role at Bybit further solidifies its commitment to the crypto scene in Dubai. With Bybit being the first entity to be appointed to the role by the DMCC, it is well-placed to leverage its experience in the industry to innovate and further grow the sector in Dubai. “We are honored to be the first organisation appointed to this advisory role by DMCC,” said Helen Liu, Chief Operating Officer of Bybit. This will further boost the Dubai crypto scene and align with Dubai’s vision of becoming the global hub for crypto and Web3. Learn more about the Dubai Crypto Scene here at Deythere.
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