Bybit Assumes Advisory Role To Boost DMCC Crypto Center Initiatives

Bybit, the second-largest cryptocurrency exchange globally by trading volume, has announced an extension of its strategic partnership with Dubai Multi Commodities Centre (DMCC). This collaboration, which has already seen a year of success, will now see Bybit transition from a key ecosystem partner to an advisory role, reinforcing its influence in Dubai's burgeoning crypto and Web3 sectors.

This enhanced partnership signifies a new phase in Bybit and DMCC's shared dedication to nurturing the region's crypto ecosystem. From August 2024 to July 2025, Bybit will act as a DMCC Ecosystem and Advisory Partner. In this capacity, it will offer strategic guidance to the DMCC Crypto Center and its members on pivotal initiatives.

Boosting Dubai's Position as a Global Crypto Hub

To further strengthen Dubai's status as a global crypto hub, Bybit and the DMCC Crypto Center will jointly host two significant industry events this year: a global hackathon and a flagship conference. The hackathon aims to foster innovation by aiding developers in creating web3 projects. Meanwhile, the conference will establish Dubai as a thought leadership center by gathering industry experts and key opinion leaders.

The past year has seen notable accomplishments, including a $100,000 prize pool hackathon designed to support blockchain startups. Other initiatives included a Masterclass for budding entrepreneurs, the "Let Web3 Happen in Dubai" event focusing on security and compliance, and a prominent side event at Token 2049. Through these efforts, Bybit has actively supported over 20 startups, helping them gain traction in Dubai's vibrant crypto scene.

By assuming an advisory role, Bybit aims to utilize its extensive industry knowledge to shape the future of Dubai's crypto and Web3 landscape. This collaboration highlights Bybit's steadfast commitment to supporting Dubai's ambition of becoming a global hub for crypto and Web3 technologies.

"We are honored to be the first organization appointed to this advisory role by DMCC," said Helen Liu, Chief Operating Officer at Bybit. "By taking on an advisory role, we are excited to leverage our expertise to drive innovation and support the growth of the industry in Dubai."

Belal Jassoma, Director of Ecosystems at DMCC, added: "Bybit have been true partners over the past year, bringing substantial value to Dubai's crypto and Web3 community. We are thrilled to expand this through Bybit's advisory role, which will support our Crypto Centre members in new ways as they look to scale their crypto businesses and tap into some of the world's most exciting markets."

This collaboration underscores Bybit’s unwavering dedication to supporting Dubai’s vision of becoming a leading global hub for cryptocurrency and Web3 innovations.