The Solana Foundation has partnered with Dubai's Virtual Assets Regulatory Authority (VARA) to establish a Solana Economic Zone (SEZ). This initiative, announced recently, aims to make Dubai a hub for blockchain innovation.
The SEZ will bring together crypto industry participants, including founders, developers, and investors. VARA will provide regulatory clarity, information, and advice. Workshops and training will foster talent and create Web3 professionals.
The Solana Foundation plans to expand SEZs to regions like Kazakhstan, Asia-Pacific, Africa, and Europe. The first SEZ was established in Argentina in September 2024 to promote digital asset adoption. Solaxy, a second Solana engine, has raised $43.72 million in its presale to address network congestion.