Abu Dhabi Starts $2 bn Initiative For Web3 Startups
Hub71, the innovation hub of Abu Dhabi, has launched a $2 billion programme to support blockchain and Web3 firms in the area.
According to a news release on Wednesday, the Hub71+ Digital Assets ecosystem project would give businesses access to a variety of programmes and possible corporate, governmental, and investment partners.
Additionally, the programme will assist companies moving to Abu Dhabi and foster startup development in the region and abroad.
The initiative’s headquarters will be at Hub71 in the financial district of Abu Dhabi Global Market. The initiative’s core partner, FABRIC, the research and development centre of the First Abu Dhabi Bank (FAB), also comprises cryptocurrency exchanges and service providers.
(With inputs from Shikha Singh)
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