CVTX Enters Dubai's DMCC, the Global Hub of Web3

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Nov 09, 2023, 13:00 ET

SEOUL, South Korea, Nov. 9, 2023 /PRNewswire/ -- Carrieverse has joined as an ecosystem partner of the Dubai Multi Commodities Center (DMCC), a crypto-economic free zone in Dubai, United Arab Emirates. Carrieverse received final approval for the establishment of its local subsidiary within DMCC in October and is now set to expand into the Middle East (MENA) and the global Web3 ecosystem from the DMCC as its base.

DMCC is a Dubai government agency established under the leadership of Chairman Ahmed, situated in the Jumeirah Lake Towers district of the city. It is the largest free trade zone in the UAE, covering an area approximately ten times the size of Pangyo in Gyeonggi Province, South Korea. It is home to over 23,000 companies, ranging from startups to large enterprises, and has been consecutively recognized as the "Global Free Zone of the Year" by the Financial Times (FT) from 2015 to the present year.

Notably, the DMCC Crypto Center, established to promote the growth of the blockchain and crypto industry, hosts over 1,000 top-tier global Web3 companies, including Binance and Bybit. Zaher, Director of DMCC Crypto Center, stated that since 2015, they have introduced four types of licenses, including △Blockchain service providers △Metaverse service providers △Crypto OTC trading △Crypto mining. DMCC supports crypto companies in obtaining licenses and actively assists in their business expansion, including funding, incubation, P2P matching, and collaboration opportunities with resident companies (traditional businesses).

Carrieverse has officially obtained the license for Metaverse service provision in this context. Moreover, through a business agreement, DMCC is registered as an official partner of Carrieverse, the issuer of the virtual asset CVTX. Carrieverse, through its collaboration with DMCC, now has the opportunity to build cooperative relationships with over 1,000 top-tier global Web3 companies located in DMCC, and it is expected to gain momentum in terms of global exchange listings.

David Yoon, CEO of Carrieverse, who led this partnership, expressed his thoughts, saying, "DMCC has become a hub for virtual assets, where recent Web3 companies and investors are flocking, benefiting from active support from the Dubai government and royal family. As the first official partner of DMCC among Korean Web3 companies, Carrieverse is expected to grow into a global company in this environment."

Carrieverse and DMCC plan to announce their partnership roadmap in the near future.