Breaking Ground: TOKEN2049 Dubai’s Day 1 Announcement Roundup

The blockchain and digital asset landscape witnessed significant developments as industry leaders converged at TOKEN2049 Dubai.

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With a focus on driving innovation and fostering collaboration, several groundbreaking announcements were made on Day 1, showcasing the industry’s evolution and potential for growth. From strategic partnerships to token launches, here’s a roundup of the key highlights from the event.

1. QCP and Further Ventures Forge Alliance to Drive Digital Asset Innovation

In a bid to revolutionize digital asset innovation in Abu Dhabi and the MENA region, QCP and Further Ventures have joined forces. The collaboration aims to introduce cutting-edge financial and derivatives product offerings by leveraging QCP’s expertise in digital asset trading and Further Ventures’ licensed broker-dealer and custodial platforms. As part of this strategic move, QCP is set to expand its footprint to Abu Dhabi, establishing a presence in Abu Dhabi Global Markets.

2. Abra Unveils Abra Prime and Abra Private for Institutional and Private Clients

Abra, a global platform for digital asset prime services and wealth management, has announced the launch of its integrated solutions for institutional and private clients. Following approval from the SEC, Abra Capital Management LP (ACM) will operate as a registered investment advisor (RIA), offering bespoke crypto investment solutions through a separately managed accounts model (SMA). This milestone underscores Abra’s commitment to catering to the evolving needs of institutional and private investors.

3. Drift Foundation Introduces DRIFT Governance Token and Airdrop

The Drift Foundation has unveiled DRIFT, the governance token for Drift, the leading decentralized perpetual exchange on Solana. With the launch of the DRIFT token, Drift aims to decentralize its platform, reward loyal users, and empower the community in shaping the protocol’s future development. Notably, 100 million tokens, representing 10% of the total token supply, will be distributed to 180,000 of Drift’s users based on their platform activity.

4. stc Bahrain Collaborates with Avalanche to Drive Web3 Progress

stc Bahrain, a prominent digital enabler, has partnered with Ava Labs to advance Web3 progress in the Middle East. Through the launch of an Avalanche Subnet as part of its Web3 Launchpad Program, stc Bahrain seeks to accelerate blockchain adoption and expansion in the region. This partnership underscores the commitment to fostering innovation and growth in Web3 solutions across the Middle East.

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Stay tuned for more coverage of Dubai, as well as interviews with industry leaders. For up-to-date news and developments, follow the official Twitter channel at https://twitter.com/token2049.

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