Solana Eyes Economic Zone In Dubai To Foster Crypto Innovations. Best Crypto To Buy?

Solana, the layer one blockchain network, has decided to invest in the UAE big time. The company is planning to launch Solana Economic Zone in Dubai. Solana sees this economic zone as a place for innovation, community building and collaboration in the UAE.

The UAE has been amongst the frontrunners when it comes to adoption of blockchain and Web3 technologies. It has also been a magnet for new businesses in fintech and related emerging technologies. Stacking these two realities, one can see the growing significance of the UAE in the global crypto space.

For Solana, Dubai’s location plays a key role in their reason to setting up their business in the UAE. It stands as a vital crossroads between the West and the East, providing easy access to global markets.

According to a Forbes article published on 27 January 2025, Alex Scott, Solana’s Middle East Lead said, “We are creating a space where policymakers, capital allocators, and Web3 engineers can come together to engage innovate and build.”

Join us in Dubai from 14 to 26 April.
Solana Economic Zone: Dubai.
Accelerate. pic.twitter.com/aoWjEoaL96

— Superteam UAE (@SuperteamAE) January 27, 2025

A big reason why companies like Solana are able to set up businesses in the UAE is because of its regulatory environment. The framework developed by the government proactively supports blockchain technology, providing businesses with a clear path to scaling their operations.

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The Solana Economic Zone is Built on Three Pillars

The economic zone launch event is scheduled from 14th to the 26th of April 2025, coinciding with Dubai’s crypto event – Token2049. Attendees can expect debates and workshops that most likely will have an effect on the future of blockchain tech and its innovation.

Three pillars drive the economic zone, creating a comprehensive platform that fosters innovation in the digital space.

• Content – Initiative to better showcase Web3’s potential through workshops, debates and demos
• Capital – Leveraging connections to connect founders and investors with funding opportunities
• Community – Encourage policymakers, developers and entrepreneurs to connect via social gatherings in an inclusive environment.

The economic zone is a part of the company’s broader initiative to create global hubs of innovation. Prior to this, a similar project had been launched in Argentina. The company aims to conduct workshops and clinics to dispel any misconception an investor might have about investing in projects coming out of the UAE.

Solana is hoping that the special economic zone coming up in Dubai can become a launchpad for future international collaborations.\

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Free Zones Permitting Crypto Activities in the UAE

Several free zones exist in the UAE to cater to the needs to cryptocurrency and blockchain companies. Dubai Multi Commodity Centre (DMCC), International Free Zone Authority (IFZA) and Dubai World Trade Centre (DIFC) offer various licenses for crypto in the UAE.  

Often, businesses opt for free zones, however, it is possible to get a crypto license in Dubai mainland. The Department of Economic Development (DED) offers licenses for meta service provisions and distributed ledger technology.

It is important to note that Virtual Asset Regulatory Authority (VARA) oversees crypto activities both in free zones as well as mainland Dubai. Businesses must understand VARA’s regulations before signing off on a project in the UAE.

Explore: Solana vs Ethereum: Which is Better in 2025?

Best Crypto To Buy?

JUP, the native token of the aggregating DEX on Solana, is trending higher, adding 21% in the last day alone, according to Coingecko data. JUP prices could continue trending upward, looking at the performance in the daily chart.

The ongoing Solaxy presale continues to attract investors, and supporters are adamant that this scaling solution will disrupt the status quo, including Jupiter. Solaxy plans to release the first-ever Solana layer-2, addressing scaling challenges and high transaction failure rates on the blockchain. In essence, Solaxy wants to solve key pain points that Solana users often face, especially during times of high activity.

OFFICIAL TRUMP is the official meme coin recently launched by Donald Trump. This guide explains how to buy TRUMP tokens in 5 simple steps.

Explore: How to Buy OFFICIAL TRUMP (TRUMP) in 5 Easy Steps

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