The Government of Ras Al Khaimah (RAK) has launched the world’s first free zone dedicated to digital and virtual asset companies called RAK Digital Assets Oasis. This free zone is designed to provide a supportive environment in UAE for non-regulated activities in the virtual assets sector and will be open for applications in the second quarter of 2023.
The aim is to attract entrepreneurs and companies involved in emerging sectors of the future, such as metaverse, blockchain, NFTs, DAOs, and other Web3-related businesses.
Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis, quoted, “We are proud to further the UAE’s position as a primary destination for innovation with the launch of RAK Digital Assets Oasis.”
RAK Digital Assets Oasis will offer various 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 evolve.
The CEO of RAK Digital Assets Oasis, Dr Sameer Al Ansari, is committed to empowering the next generation of global entrepreneurial talent to build transformative solutions and create impact while shaping the future of businesses and economies. He also mentioned, “We look forward to welcoming the world’s brightest Web3 minds with their most disruptive ideas that uncover new approaches to creating a better future.”
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