as regulatory environment Getting too hot to handle in the US, cryptocurrency exchanges continue to expand their reach for a better business environment. The United Arab Emirates (UAE) is one of them. Bybit, one of the most popular exchanges in the world, has identified potential in the region and is already looking for a competitive edge.
Bybit Partners with UAE University to Boost Cryptocurrency Adoption in the Region
in the nearest blog, Bybit Exchange revealed a new collaboration with the American University of Sharjah (AUS). These two household names have come together as part of a shared vision to increase cryptocurrency adoption in the UAE. The Memorandum of Understanding (MOU) was signed on Tuesday 6 June in Sharjah, UAE.
this exchange One million United Arab Emirates Dirhams (AED 1,000,000) has been injected into the cause as “Bybit Scholarship Fund‘ for students of computer science and computer engineering. An excerpt from the announcement follows:
…supported 20 students to accelerate their academic and research careers in fintech and blockchain at AUS.
In addition, Bybit will also provide Blockchain community In the UAE, an additional AED 100,000 has been invested in the initiative. “The first AUS-Bybit inter-school hackathon will be held at the AUS School of Engineering in the 2023-2024 academic year.”
AUS Vice-Chancellor Dr Susan Mumm attributed the institution’s reputation as a center of educational excellence to its strong industry links, enabling it to bridge the gap between industry and academia, adding:
By partnering with Bybit, our students will gain technical knowledge that will help them keep up with all the new things in the cryptocurrency and blockchain industry, improve their skills, and support their education by setting up Bybit scholarships.
Scholarship funds will begin this fall.
Dubai and UAE are hubs for cryptocurrencies and innovation
This all shows that the region and its leadership recognize the contribution of cryptocurrencies in the field of trade and the thriving cryptocurrencies and Blockchain industryIt is worth mentioning that there are more than 772 crypto-based companies in Dubai alone, as part of the UAE’s commitment to shaping and presenting itself as an innovation hub in the digital asset space. Therefore, the demand for blockchain talents in the country is expected to rise.
in the nearest Q&A session In the Twitter space, Binance CEO prove Dubai’s role as a mover for the cryptocurrency industry detailed the presence of the world’s largest cryptocurrency exchange by trading volume in the country. Specifically, he praised the country’s business-friendly environment, saying:
Already a major cryptocurrency innovation hub, Dubai hosts several industry-related events almost every evening.
according to long march, Binance’s presence and growth in Dubai is attributed to the country’s international reach and business-friendly practices in the region leading to a thriving local economy. especially, Binance In about 18 months, Dubai had more than 700 employees, showing rapid growth in a favorable country.