{"id":19338,"date":"2023-06-07T07:53:47","date_gmt":"2023-06-07T11:53:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-exchange-bybit-announces-aed-1-million-scholarship-fund-at-uae-university\/"},"modified":"2023-06-07T07:53:49","modified_gmt":"2023-06-07T11:53:49","slug":"crypto-exchange-bybit-announces-aed-1-million-scholarship-fund-at-uae-university","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19338","title":{"rendered":"Crypto Exchange Bybit Announces AED 1 Million Scholarship Fund at UAE University"},"content":{"rendered":"
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As the regulatory environment in the United States become too hot to handle, cryptocurrency exchanges continue expanding their reach for better business environments. The United Arab Emirates (UAE) presents as one of these greener pastures. One of the most popular exchanges in the world, Bybit, has spotted the region\u2019s potential and is already reaching out for competitive leverage.<\/p>\n

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Bybit Collaborates with UAE University to Foster Crypto Adoption in the Region<\/h2>\n

In a recent blog<\/u>, Bybit Exchange revealed a new collaboration with the American University of Sharjah (AUS). The two household names coming together are part of a shared vision to increase crypto adoption in the UAE. The Memorandum of Understanding (MOU) was signed on Tuesday, June 6, in Sharjah UAE.<\/p>\n

The exchange has already injected one million United Arab Emirates dirhams (AED 1,000,000) into the cause, presented as the \u2018Bybit Scholarship fund<\/i>\u2019 for computer science and computer engineering students. An excerpt from the announcement reads:<\/p>\n

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\u2026to support 20 students to accelerate their academic and research careers in fintech and blockchain at AUS.<\/i><\/p>\n<\/blockquote>\n

Further, Bybit will also sponsor a Hackathon for the blockchain community in the UAE, having committed an additional AED 100,000 for the initiative. \u201cThe first AUS-Bybit Inter-College Hackathon will be held at the AUS College of Engineering in the 2023-2024 academic year.\u201d<\/p>\n

Chancellor of AUS, Dr. Susan Mumm, attributed the institution\u2019s\u00a0 reputation as a center for educational excellence to its strong industry links that enable it to bridge gaps between industry and academia, adding:<\/p>\n

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Through this partnership with Bybit, our students will have access to the technical knowledge that helps them keep up with all that is novel in the crypto and blockchain industry, enhance their skills, and support their education through the establishment of the Bybit Scholarship.<\/i><\/p>\n<\/blockquote>\n

The scholarship fund will take effect beginning this fall.<\/p>\n

Dubai and UAE as the epicenter of crypto and innovation<\/h3>\n

It all points to the region and its leadership recognizing the contribution of crypto in the trade sector and the thriving cryptocurrency and blockchain industry. It is worth mentioning that there are over 772 crypto-based firms in Dubai alone, which is part of the UAE\u2019s commitment to mold and present itself as the hub of innovation in the digital asset space. With this, the demand for blockchain talent in the country is expected to rise.\u00a0\u00a0\u00a0<\/p>\n

In a recent AMA session<\/u><\/a> on Twitter spaces, Binance CEO attested<\/u> to Dubai’s role as an enabler for the crypto industry, detailing the presence of the world\u2019s largest crypto exchange by trading volume in the country. Specifically, he hailed the country\u2019s business-friendly environment, saying:<\/p>\n

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Dubai is already an important crypto innovation hub with multiple industry-related events taking place almost every evening.<\/p>\n<\/blockquote>\n

According to CZ, Binance\u2019s presence and growth in Dubai are attributed to the international presence of the country and the region\u2019s business-friendly practices that have led to a booming local economy. Notably, Binance boasts over 700 employees in Dubai within a span of around 18 months, indicating a rapid growth pace within an enabling country.<\/p>\n<\/p><\/div>\n