December 8, 2023

Dubai’s DIFC Partners with Wemade To Enhance Web3 Gaming Community

DIFC x Wemade

DIFC x Wemade

Wemade, a South Korean global game developer, has announced a partnership with Dubai International Financial Center’s Innovation Hub to create a WEMIX-centric web3 gaming community.

This collaboration aims to boost the development of Dubai’s gaming ecosystem and support the Dubai Program for Gaming 2033 aims. Wemade is the first Korean game company to partner with DIFC Innovation Hub, which fosters innovation, enterprise, and talent across various sectors, especially in future-oriented industries. Wemade will benefit from the DIFC Innovation Hub’s facility and programs, among others.

The Wemade-DIFC Innovation Hub collaboration plans to establish a WEMIX PLAY Center within the DIFC Innovation Hub for WEMIX PLAY. This initiative aims to onboard game companies and facilitate raising a US$100 million Web3 Gaming fund to support developers, studios, and entrepreneurs. As part of this collaboration, a renowned Web3-related event will be held to promote its efforts further.

Dubai is a major business hub with advanced financial services and policies that foster economic growth, attract investors, and promote blockchain and cryptocurrency. Wemade, with the support of the DIFC Innovation Hub, aims to maintain close communication with UAE crypto-regulatory bodies to keep up with the latest trends in the Middle East business strategy.

Wemade is also developing an application for Crypto Token Recognition from the Dubai Financial Services Authority, the DIFC’s Financial Regulator. Tokens that receive this status will allow financial institutions in the DIFC to carry out transactions with them, which can be used by over 4,900 companies in the special economic zone.

Since November 1, 2022, when the DFSA introduced its comprehensive framework for regulating financial services using Crypto Tokens, only five tokens (BTC, ETH, LTC, XRP, and TON) have received this recognition.

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