- Collaboration not only accelerates the growth of the Sui ecosystem’s startups but also reinforces the UAE’s position at the forefront of Web3 innovation on an international scale.
The strategic partnership between Ras Al Khaimah Digital Assets Oasis (RAK DAO) and SuiHub MENA marks a significant milestone in the United Arab Emirates’ burgeoning digital assets and blockchain sector.
As the UAE’s pioneering free zone dedicated exclusively to digital assets and blockchain enterprises, RAK DAO’s collaboration with SuiHub MENA—a regional innovation hub supporting startups within the Sui blockchain ecosystem—demonstrates a forward-looking approach to fostering innovation, entrepreneurship, and scalable growth within the rapidly evolving Web3 landscape.
This partnership is notable for RAK DAO’s role as an official partner in the SuiHub MENA Accelerator Program. By leveraging RAK DAO’s well-established regulatory and licensing infrastructure, startups affiliated with SuiHub will gain seamless access to resources critical for navigating the UAE’s dynamic business environment.
Supportive hub
The partnership highlights Ras Al Khaimah’s strategic positioning as a supportive hub for blockchain ventures, underpinned by a regulatory framework that balances innovation with compliance.
The choice of Dubai as the inaugural location for Sui’s first global innovation hub in 2024 is emblematic of the Emirate’s progressive stance on digital transformation.
Dubai has long been recognised as a regional leader in adopting emerging technologies and fostering a conducive ecosystem for tech startups. Coupled with RAK DAO’s thriving ecosystem—which currently hosts over 500 Web3 companies across diversified sectors including GameFi, NFTs, decentralised finance, and DAOs—this alliance creates a formidable platform for synergistic growth and cross-collaboration.
Kristof Lukovich, CEO of SuiHub MENA, emphasised the unique environment created through strong cooperation with government entities and regulatory authorities, positioning the UAE as an attractive destination for blockchain startups.
Similarly, Luc Froehlich, Chief Commercial Officer at RAK DAO, highlighted how this partnership amplifies the UAE’s growing reputation as a global blockchain innovation hub, facilitating the journey of startups from ideation to scale with enhanced support mechanisms.
The importance of this initiative is further amplified by Sui’s rapid growth within the decentralised finance sector, which currently boasts institutional investments and trading volumes in the hundreds of billions of dollars.
The partnership strategically places RAK DAO at the nexus of this growth trajectory, effectively positioning it to serve as an enabler for the next generation of high-potential Web3 ventures. This relationship underscores an ecosystem built not merely on technological innovation but also on robust financial flows and institutional confidence.
Paul Dawalibi, CEO of RAK DAO, succinctly captured the ethos behind this alliance, highlighting the zone’s commitment to combining regulatory clarity with global connectivity.
“The dual focus is essential in fostering an innovation-friendly ecosystem that can attract international talent and investors while providing startups with a clear legal framework and scalable infrastructure.”