Ras Al Khaimah Digital Assets Oasis (RAK DAO), the world’s first free zone established to support digital assets companies, has entered into a strategic partnership with Phoenix Group and Internet of People (IOPn) to drive innovation and foster economic growth in the emirate.
The partnership will specifically focus on positioning Ras al Khaimah as a global hub for Web3 pioneers.
Phoenix Group, an ADX-listed company, is a leader in web3 development in the UAE, while IOPn is an integrated Web3 ecosystem that leverages blockchain, AI, and cutting-edge spatial computing.
As part of the partnership, Phoenix Group and IOPn have committed to investing $100 million in RAK by 2030 leveraging RAK DAO’s infrastructure.
The investment is to stimulate innovation and attract top-tier professionals to the region within the Web3 space.
The partnership seeks to target, encourage and attract highly skilled individuals in Web3, crypto, blockchain, and developer domains to the region.
Phoenix Group and IOPn will also aim to enrich the local talent pool by leveraging initiatives such as the Golden Visa programmes and RAK DAO business licenses through investment.
Dr. Sameer Al Ansari, CEO of RAK DAO, said the $100 million investment marks a significant milestone to establish Ras al Khaimah as a premier destination for Web3 innovation and talent.
“By leveraging Phoenix Group and IOPn’s expertise and resources, we are poised to further enrich our dynamic ecosystem that fosters cutting-edge technologies and attracts the brightest minds in the blockchain and digital asset sectors,” he said.
Seyed Mohammad Alizadehfard (Bijan), Co-founder and Group CEO of Phoenix Group, said the partnership will not only drive innovation but also strategically position the emirate as a leading center for blockchain excellence globally.
Mojtaba Asadian, Founder and CEO of IOPn, said IOPn builds on the visionary leadership of Ras Al Khaimah and the supporting environment created by RAK DAO to provide a unique opportunity for top-rated world talent to innovate and create value.
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