Renowned cryptocurrency exchange, Gate.io through its investment organ, Gate Ventures, has joined forces with the Blockchain Center in Abu Dhabi to launch Falcon Gate Ventures, a $100 million initiative. The cryptocurrency exchange made the announcement on Monday via a post on its official website.Â
In the announcement, Gate.io revealed that the fund will be targeted at supporting Web3 developers that are committed to developing new innovations. More so, the project focuses on having an international impact due to how the partners will scout for young tech enthusiasts and developers from key regions.
As revealed, some of these regions are the USA, Asia, Europe, and the MENA region. With Falcon Gate Ventures, the partners intend to advance decentralized infrastructure and applications.
In addition, the project will also focus on accelerating the adoption of emerging technologies. At its core, Falcon Gate Ventures is on a mission to nurture the growth of the International Web3 landscape, while strengthening the position of the UAE as a leading hub for the global virtual economy.
Meanwhile, in the statement, the investment arm of Gate.io discussed how the Fund will comply with local and international regulatory standards. According to the firm, good regulatory frameworks will help foster innovation in the crypto landscape while protecting investors.
Insight From Executives Into the Gate.io and Blockchain Center in Abu Dhabi
The CEO of the Blockchain Center in Abu Dhabi, Abdulla provided more insights into the functionality of the vision behind Falcon Gate Ventures. Furthermore, the CEO discussed how the partnership with Gate Ventures emanated due to the years of experience and proven track record the company possesses in the crypto landscape.
Similarly, Abdulla described the firm as an industry leader whose expertise suits the vision of the Blockchain Center in Abu Dhabi. The CEO discussed how the special fund can create a powerful force that will support and scale high-potential blockchain solutions.
Likewise, the CEO established that the collaboration will advance the adoption and impact of blockchain innovations within and outside the UAE. Meanwhile, Kevin Yang, Managing Partner At Gate Ventures also reacted to the establishment of Falcon Gate Ventures.
The executive discussed how the newly established fund marks a new development in the mission of Gate.io to advance global blockchain innovation. Kevin Yang illustrated that the partnership with the Blockchain Center in Abu Dhabi is an investment in the digital future.
According to Gate.io, Falcon Gate Ventures is not only a financial commitment but a strategic project that is designed to usher diversified resources to support Web3 project developers. As part of its operational plans, the fund will extend support to blockchain education and research efforts.