Ras Al Khaimah’s Web3 initiative gets $100-million investment pledge
Phoenix Group and IOPn step up
RAK Digital Assets Oasis (RAK DAO), the world’s first purpose-built free zone for digital and virtual assets companies, has signed a strategic partnership with Phoenix Group and Internet of People (IOPn) to turn Ras Al Khaimah emirate into a global hub for Web3 innovation by attracting top-tier talent and creating a thriving blockchain and digital assets ecosystem in Ras Al Khaimah; one of the seven emirates in the United Arab Emirates.
Phoenix Group, listed on the Abu Dhabi Securities Exchange, and IOPn, an integrated Web3 ecosystem leveraging blockchain and advanced technologies, have pledged a joint investment of $100 million by 2030, demonstrating their dedication to creating a thriving blockchain and digital assets ecosystem in Ras Al Khaimah emirate.
Sameer Al Ansari, CEO of RAK DAO, said: “We are thrilled to welcome Phoenix Group and IOPn as RAK DAO’s ecosystem partners. This $100 million investment marks a pivotal moment in our mission to establish Ras al Khaimah as a premier destination for Web3 innovation and talent.”
Seyed Mohammad Alizadehfard, Co-founder & Group CEO of Phoenix Group, added: “Our collaboration signifies a major expansion of our commitment to blockchain infrastructure, positioning Ras al Khaimah as a global leader in blockchain excellence.”
Mojtaba Asadian, Founder and CEO of IOPn, noted: “IOPn leverages Ras Al Khaimah’s visionary leadership and the supportive environment created by RAK DAO to foster innovation. Our partnership with Phoenix Group underlines our dedication to driving Web 3.0 advancements.”
RAK DAO provides a transparent legislative framework and comprehensive services to foster innovation and unlock the potential of digital assets. Based in the UAE, Phoenix Group is a multi-billion-dollar tech powerhouse specialising in blockchain and tech with a portfolio spanning mining, hosting, trading, and investments. IOPn is a Web3 ecosystem that leverages blockchain, spatial computing, and AI to enable digital sovereignty and permissionless innovation.
Featured image: (L-R) Sameer Al Ansari, CEO of RAK DAO; Mojtaba Asadian, Founder and CEO of IOPn; and Bill Qian, Managing Director & Chief Investment Officer of Phoenix Group at the signing ceremony in Ras Al Khaimah emirate. Credit: RAK DAO
