Bank

United

Kevin

Dubai

Gate Ventures, the venture capital branch of crypto exchange Gate.io, has partnered with the Blockchain Centre in Abu Dhabi to launch a $100M fund to spur innovation for Web3. It has introduced this new corporate initiative to collaborate with Web3 builders.&nbsp; 
The exchange’s venture arm said the fund will be used to push forward decentralized infrastructure and applications and to step up the adoption of innovative solutions. The two firms shall fuse their idea and capital to aid professionals from core regions such as the US, Asia, Europe, and Middle East North Africa or MENA. ‘Upscaling’ of high growth potential projects with Gate Ventures 
Blockchain Center in Abu Dhabi’s CEO Abdulla Al Dhaheri noted that the alliance will foster and develop “high potential” projects leveraging <a href="https://news.todayq.com/blockchain-validator-how-they-work-and-their-importance/">blockchain</a>. The executive confirmed that Gate Ventures has the same vision of raising the pace and influence of blockchain technology across the UAE and the globe. 
Abu Dhabi launched the Blockchain Center on the 1st of August for the region’s development of blockchain technology. The proposed organization aims to make Abu Dhabi the world’s blockchain capital and foster an environment involving academics, businesses, and start-ups through calls and diverse services. 
Kevin Yang, Gate Ventures’ managing partner, added that they are now investing in the digital future and will boost blockchain development worldwide. Besides promoting blockchain technology development, the UAE implements digital assets in its conventional banking system and employee payments. Ras Al Khaimah bank now wades into digital asset management&nbsp; 
On August 19, the National Bank of Ras Al Khaimah (RAKBANK) signed with the crypto infrastructure provider Bitpanda Technology Solutions to launch a <a href="https://news.todayq.com/bank-of-ghana-releases-draft-guidelines-for-digital-assets/">digital asset</a> management platform for UAE residents.&nbsp; 
Although the team declared such cooperation, it is necessary to get permission from the Central Bank of the United Arab Emirates (CBUAE).&nbsp; Dubai Now Considers Salaries in Crypto 
UAE Lawyer Irina Heaver, on Aug. 16, highlighted that a judgment in case No: 1739/2024 was a new trend in the approach of the UAE judiciary towards Cryptocurrency. In the ever-sophisticated case, the Dubai Court of First Instance resolved the issue in favor of the employee who sued an employer to pay his employee wages in crypto under their contract.

Gate Ventures & Abu Dhabi Blockchain Launch $100M Web3 Fund

Todayq News

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