Gate.io and Abu Dhabi Blockchain Center Launch $100 Million Web3 Fund
20.08.2024 13:30 1 min. read Alexander Stefanov
Gate.io’s investment arm, Gate Ventures, has partnered with Abu Dhabi’s Blockchain Center to create a new $100 million fund, named Falcon Gate Ventures, aimed at advancing Web3 technologies.
The fund, announced on August 19, seeks to boost the development of decentralized infrastructure and applications.
It will support projects and talent across the U.S., Asia, Europe, and the MENA region.
The Blockchain Center, recently established, aims to position Abu Dhabi as a leading hub for blockchain innovation.
Gate Ventures’ Kevin Yang highlighted that this collaboration is a significant step toward advancing global blockchain progress.
In other UAE developments, Ras Al Khaimah Bank is working with Bitpanda Technology Solutions on a digital asset management platform, pending Central Bank approval.
Additionally, a recent Dubai court ruling allows an employee to receive their salary in cryptocurrency, reflecting a shift in legal attitudes towards digital assets.
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