Abu Dhabi’s Launch of ‘Hub71+ Digital Assets’ Opens up TON Foundation Ecosystem to $2 Billion Start-Up HubToday, the TON Foundation has opened up its ecosystem to start-ups and investors based at Hub71+ Digital Assets, an Abu Dhabi-based Web3 specialist ecosystem with more than $2 billion of capital to deploy.
The hub is officially backed by Mubadala, the UAE’s $284 billion sovereign fund, ADGM, the region’s financial regulator, Abu Dhabi Investment Office and First Abu Dhabi Bank, which is owned by the sovereign.
What this collaboration means to the TON community
1. Hub71+ Digital Assets will give priority access to the pool of capital available to TON-based projects put forward by TON Foundation.
2. The collaboration with Hub71+ Digital Assets will cement TON Foundation’s position among regulators and key stakeholders in the emerging digital economy of the United Arab Emirates (UAE), enhancing opportunities for it to engage in consultation and licensing initiatives.
3. Start-ups based at Hub71+ Digital Assets will have the opportunity to apply for funding with the $250 million TONcoin.Fund.
This collaboration is unprecedented, combining the only blockchain that can leverage a 700 million+ user base with a major ‘regulated’ hub for capital in the emerging Web3 economy.
Notably, the UAE’s Digital Economy Strategy aims to double the contribution of the digital economy to non-oil GDP to more than 20 per cent within 10 years. TON’s innovative technology and its growing community will play a pivotal role in this roadmap and help make this vision a reality. Our entire community will undoubtedly be thrilled to hear today’s news.
