SuiHub MENA and the Dubai Virtual Assets Regulatory Authority (VARA) are teaming up to help shape the future of web3 in Dubai. The two have signed a collaboration agreement that will focus on supporting startups, developing local talent, and sharing insights that can help grow the virtual asset space in the region.

This collaboration represents a shared vision to make Dubai a global hotspot for virtual asset innovation. VARA, established in 2022, oversees the regulation and supervision of virtual assets in the Emirate. SuiHub MENA, backed by the Sui Foundation, is committed to supporting builders and developers in the web3 ecosystem. Together, they will engage in activities that simplify compliance processes for startups, provide advisory support, and generate insights to guide future virtual asset policies in the region.

The partnership includes several initiatives, amongst others:

• Regulatory and licensing educational support: Jointly hosted workshops and guidance for startups navigating Dubai’s licensing regime, including advisory sessions and educational materials to guide founders and participants.
• Ecosystem Development: VARA will support SuiHub MENA’s flagship innovation center based in Dubai through roundtables and strategic engagements with government stakeholders, as well as a joint exploration of research opportunities.
• Talent Development: Co-created programs aimed at expanding local technical expertise aligned with the regulatory needs of the market.
• Economic Data Analysis: Sharing of anonymized data to assess the sector’s growth and its impact on employment, investment, and economic contributions.

In addition to joint events and resources for founders, SuiHub MENA will facilitate introductions between VARA and ecosystem projects while contributing insights for economic policy development. Both organizations will explore co-authored research and publications focused on the industry’s evolution.

“At SuiHub MENA, we believe in building strategic and supportive collaborations between regulators and founders.” shared Kristof Lukovich, CEO of SuiHub MENA. “Our collaboration with VARA is a significant forward and aligns with SuiHub MENA’s positive commitment to helping to shape a global benchmark for virtual asset innovation, regulatory clarity, and sustainable growth here in the region.”

To learn more about SuiHub MENA’s initiatives and partnership opportunities, visitsuihub.org.