RAK Digital Assets Oasis (RAK DAO), a free zone in the United Arab Emirates (UAE) dedicated to crypto companies, has signed a memorandum of understanding (MOU) with the HBAR Foundation to support its ecosystem members through a grant program and by providing assistance in leveraging the Hedera blockchain.
In an announcement sent to Cointelegraph, His Highness Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, the chairman of RAK DAO, said that the collaboration with HBAR Foundation will drive sustainable growth for the ecosystem and will shape a future where the UAE emirate of Ras Al Khaimah will emerge as a "global leader in the digital economy." He said: