Ras Al Khaimah: The Government of Ras Al Khaimah (RAK) launched the RAK Digital Assets Oasis, the world’s first free zone dedicated to digital and virtual asset companies, on Monday.
RAK Digital Assets Oasis will be a purpose-built free zone for non-regulated activities in the virtual assets sector. It is intended to be the only free zone in the world solely dedicated to digital and virtual assets service providers innovating in new and emerging sectors of the future including metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses. RAK Digital Assets Oasis will open for applications in the second quarter of 2023.
“We are proud to further the UAE’s position as a primary destination for innovation with the launch of RAK Digital Assets Oasis,” said Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis. “As the world’s first free zone solely dedicated to digital and virtual asset companies, we look forward to supporting the ambitions of entrepreneurs from around the world with our progressive, supportive, and quick-to-adapt approach, and our innovation-enabling environment.”
RAK Digital Assets Oasis’ lifestyle proposition will support companies with, 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.
“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,” said Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis. “We are 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.”