Hub71 launches $2 billion Hub71+ Digital Assets to support Web3 startups

Hub71 launches $2 billion Hub71+ Digital Assets to support Web3 startups

Hub71, Abu Dhabi’s global tech ecosystem, launched Hub71+ Digital Assets, a dedicated Web3 specialist ecosystem, with more than $2 billion of capital committed to funding Web3 startups and blockchain technologies from the UAE’s capital.

Hub71+ is a specialist ecosystem dedicated to advancing specific technology sectors. Hub71+ Digital Assets will be focused on unleashing the disruptive potential of Web3 and the growth of digital assets.

Hub71+ Digital Assets will be based in Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, which offers world-class blockchain and virtual asset infrastructure.

First Abu Dhabi Bank (FAB) will be the anchor partner of the Digital Assets ecosystem. FAB will identify leading Web3 startups, entrepreneurs, and breakthrough technologies to help the UAE’s largest bank reimagine financial services in the metaverse.

Web3 startups at the ‘unicorn’ stage – companies valued at more than $1 billion – will also benefit from Hub71’s value creation program to support business relocation to Abu Dhabi and growth in the Middle East and global markets.

The Digital Assets program will contribute to supporting the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to non-oil GDP to more than 20% within 10 years.

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