RAK Digital Assets Oasis (RAK DAO), a free zone in the United Arab Emirates dedicated to crypto businesses, has inked a memorandum of understanding (MOU) with the HBAR Foundation. The partnership is another step by UAE toward becoming a crypto hub in the region.

The goals which the two parties follow include helping HBAR ecosystem members in form of a grant programm and specialized assistance in the areas of technology, marketing and business development.

The chairman of RAK DAO sees the partnership as a win-win move, stating that:
“By creating and enabling the world’s first licensed Web3 ecosystem, we are facilitating the seamless exchange of information, connecting businesses across sectors, and paving the way for synergistic relationships to flourish.”