Ras Al Khaimah, UAE – The Government of Ras Al Khaimah (RAK) announced on Monday its intention to launch RAK Digital Assets Oasis, the world’s first free zone dedicated to digital and virtual asset companies. The announcement was made today at Blockchain Life 2023.
“We are building the free zone of the future for the companies of the future,” Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK International Corporate Centre (RAK ICC) and Chairman of RAK Digital Assets Oasis, said during his participation in Blockchain Life 2023. “As the world’s first free zone solely dedicated to digital and virtual asset companies, we look forward to supporting the ambitions of entrepreneurs from around the world with our progressive, supportive, and quick-to-adapt approach, and our innovation-enabling environment.”
Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis, said that the RAK Digital Assets Oasis delivers “a truly unique offering to global entrepreneurs bringing together an unmatched combination of accessibility and liveability, supported by Ras Al Khaimah’s business-friendly infrastructure, progressive policies, and an international lifestyle offering.”
RAK Digital Assets Oasis will be a purpose-built, innovation-enabling free zone for non-regulated activities in the virtual assets sector. It is intended to be the only free zone in the world solely dedicated to digital and virtual assets service providers innovating in new and emerging sectors of the future including metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses.
The free zone will open for applications in the second quarter of 2023.
“We look forward to welcoming the world’s brightest Web3 minds with their most disruptive ideas that uncover new approaches to creating a better future,” Dr. Al Ansari said. “We are committed to empowering the next generation of global entrepreneurial talent to build transformative solutions and create impact, while shaping the future of businesses and economies.”
RAK Digital Assets Oasis is billed to be a remote-work friendly, globally connected destination for digital and virtual asset companies building innovative business models for the future that will be well positioned to tap into the region’s emerging markets.