• Phoenix Group PLC and IOPn commit to investing $100 million to drive innovation and attract top Web3 talent to Ras al Khaimah by 2030. 
  • This partnership aims to create a thriving ecosystem for blockchain and digital assets in the region.

Ras al Khaimah – RAK DAO, the world's first and only Free Zone with Common Law features established to support digital assets companies, has entered into a strategic partnership with Phoenix Group and IOPn. This collaboration aims to drive innovation, foster economic growth, and further position Ras al Khaimah as a global hub for Web3 pioneers. Phoenix Group, an ADX-listed company, is a leader in web3 development in the UAE. IOPn is an integrated Web3 ecosystem that leverages blockchain, AI, and cutting-edge spatial computing.

As part of the partnership, Phoenix Group and IOPn have committed to investing $100 million into the Emirate of Ras al Khaimah by 2030 leveraging RAK DAO’s infrastructure. This substantial investment underscores Phoenix Group and IOPn’s dedication to stimulating innovation and attracting top-tier professionals to the region within the Web3 space. The partnership seeks to target, encourage and attract highly-skilled individuals in Web3, crypto, blockchain, and developer domains to the region. Phoenix Group and IOPn aim to enrich the local talent pool by leveraging initiatives such as the Golden Visa programs and RAK DAO business licenses through investment. By nurturing top-tier talent, RAK DAO, Phoenix Group and IOPn seek to create a thriving ecosystem that harnesses cutting-edge technologies – including blockchain, spatial, and cognitive solutions for economic development and sustainability.

Dr. Sameer Al Ansari, CEO of RAK DAO has expressed, “We are thrilled to welcome Phoenix Group and IOPn as RAK DAO’s Ecosystem Partners. The $100 million investment marks a significant milestone in our mission to establish Ras al Khaimah as a premier destination for Web3 innovation and talent. By leveraging Phoenix Group and IOPn's expertise and resources, we are poised to further enrich our dynamic ecosystem that fosters cutting-edge technologies and attracts the brightest minds in the blockchain and digital asset sectors.

This collaboration underscores our commitment to driving economic growth and sustainability through technological advancements. We look forward to welcoming top-tier professionals and pioneering initiatives that will redefine the digital landscape of Ras al Khaimah.”

Mr. Seyed Mohammad Alizadehfard (Bijan), Co-founder & Group CEO of Phoenix Group, elaborated on the new strategic dimensions of the partnership, stating, "Our joint venture marks a pivotal expansion of our commitment to blockchain infrastructure aimed at enhancing the technological landscape in Ras al Khaimah. Our partnership will not only drive innovation but also strategically position the Emirate as a leading center for blockchain excellence globally."

Mr. Mojtaba Asadian, Founder and CEO of IOPn, added: “IOPn builds on the visionary leadership of Ras Al Khaimah and the supporting environment created by RAK DAO to provide a unique opportunity for top-rated world talent to innovate and create value. IOPn is doing this by offering a powerful new Web 3.0 ecosystem and using the significant proven capabilities of Phoenix Group. We’re thrilled to be embarking upon this partnership with RAK DAO in collaboration with Phoenix Group.”

At the heart of this collaboration lies a commitment to access and nurture top-tier talent within the blockchain and Web3 industries. By enriching the local talent pool and fostering an environment conducive to innovation, RAK DAO, Phoenix Group and IOPN aim to drive forward-thinking initiatives that redefine the landscape and highlight the Emirate of Ras al Khaimah as an attractive destination for top talent. This six-year partnership and substantial investment underscore their dedication to stimulating innovation and attracting top-tier professionals.


About RAK DAO:

RAK Digital Assets Oasis (RAK DAO) is the world's first and only Free Zone with Common Law features established to support and nurture digital assets companies. In the UAE Emirate of Ras Al Khaimah, RAK DAO offers a transparent legislative framework that simplifies the process of opening and operating digital assets companies. By fostering a vibrant ecosystem and providing comprehensive services, RAK DAO drives the future of emerging sectors, propelling innovation, and unlocking the potential of digital assets.

About Phoenix Group:

Phoenix Group, a multi-billion-dollar tech powerhouse headquartered in the UAE, leads the forefront of the blockchain, crypto, and tech revolution, driving innovation to new heights. In 2017, Bijan Alizadeh Fard and Munaf Ali laid the foundation for what would evolve into the Phoenix Group – a conglomerate comprising several thriving businesses. Beyond the web3 sphere, they offer comprehensive solutions, boast a 765MW mining operation, and fuel growth through strategic partnerships and innovation.

Phoenix Group operates nine mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.

Phoenix Group PLC is the region's first crypto and blockchain conglomerate to be listed on the Abu Dhabi Securities Exchange. It also runs the largest mining farm in the MENA region.

Social presence:
X (Formal Twitter): https://twitter.com/phoenixgroupuae 
LinkedIn: https://www.linkedin.com/company/phoenixgroupuae/ 
Website: https://phoenixgroupuae.com/press/ 
Phoenix Group PLC media team contact:
Email: ir@phoenixgroupuae.com 

About IOPn: 

Internet of People (IOPn) is a unique web3 ecosystem founded on the three main pillars of: Decentralized (Blockchain), Spatial (Metaverse, AR, VR, XR), and Cognitive (AI). The IOPn web3 ecosystem enables digital sovereignty, privacy, and permissionless innovation.

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