The government of Ras Al Khaimah (RAK) has launched the RAK Digital Assets Oasis, which is the world’s first free zone specifically designed for businesses dealing with digital and virtual assets. This free zone is intended to create a supportive environment in the United Arab Emirates for non-regulated businesses in the virtual assets sector, and it will be available for applications in the second quarter of 2023.
The objective is to entice businesspeople and firms participating in developing industries of the future, such as the metaverse, blockchain, NFTs, DAOs, and other enterprises relevant to Web3.
The statement “We are happy to expand the UAE’s position as a leading destination for innovation with the introduction of RAK Digital Assets Oasis,” was attributed to Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis.
The RAK Digital Assets Oasis will provide a number of different types of support services, such as innovation-enabling adoption frameworks, advisory and professional services, hybrid workspaces, accelerators and incubators, sandboxes, access to funding, and an environment that encourages entrepreneurs to create and advance their ideas.
Dr. Sameer Al Ansari, who is the CEO of RAK Digital Assets Oasis, is dedicated to enabling the next generation of global entrepreneurial talent to design game-changing solutions and make an impact while impacting the future of companies and economies. In addition to that, he added that “We look forward to hosting the world’s greatest Web3 thinkers with their most innovative ideas that unearth new methods to building a better future.”
Compiled by Coinbold