Solana Foundation and VARA sign MOU to launch Dubai economic zone and boost Web3 talent

Dubai’s digital asset development takes a new step, with the Solana Foundation signing a strategic Memorandum of Understanding (MoU) with the Virtual Assets Regulatory Authority (VARA) of Dubai.

The agreement announced on June 3 centers around talent development, regulatory collaborations, and support for the newly proposed Solana Economic Zone in Dubai.

Solana Foundation just signed an MOU with VARA, Dubai’s Virtual Assets Regulatory Authority. It sets the stage for deep collaboration between crypto builders and regulators:
> Talent development programs
> Sharing economic impact + sector data
> Workshops + advisory sessions for… pic.twitter.com/vFXCDqzkZx

— Solana (@solana) June 3, 2025

This partnership will help Dubai to integrate Web3 technology seamlessly with its economic planning.

Technical and regulatory training, economic data exchange, and targeted support for blockchain startups maneuvering through Dubai’s licensing framework will be part of the joint programs. Founders will also be able to connect with investors and policymakers through regular workshops, which aid in their understanding of compliance requirements.

The Solana Economic Zone will be a dedicated environment for founders and developers. The site will give direct access to VARA’s regulatory insights and business advisory resources. The agreement also covers a plan to share anonymized data to evaluate the effects of digital assets on the growth in employment and the economy of the UAE.

Solana joins AIX and Interbix to launch tokenized IPOs

Similarly, the Solana Foundation has also signed another MoU with Kazakhstan’s Astana International Exchange (AIX), Interbix, and Jupiter. This deal paves the way for a dual listing framework to occur by combining traditional stock exchange infrastructure with tokenized offerings based on Solana’s blockchain.

Within this framework, companies planning to do an IPO on AIX could also issue tokenized versions of their shares in Interbix. Solana will serve as the blockchain layer, and Jupiter’s decentralized tools will handle the technical infrastructure.

The initiative will also enable more effective access to capital markets and digital finance integration into the existing regulatory models, AIX CEO Assel Mukazhanova says.

Talgat Dossanov, CEO of Interbix, said that the agreement was a milestone for capital formation, linking the innovation of blockchain with transparency in finance. The hybrid model is predicted to enhance investor involvement by providing more convenient, efficient, and secure ways of trading in the equity markets.

The partnership will leverage the authenticity of regulated public markets with the transparency of decentralized networks, the Solana Foundation said. It aims to appeal to a wider investor audience and must be compliant and scalable.

SOL price is in recovery 

While Solana’s market activity signals growing interest, daily charts show SOL has gained 4.5%, but the token is up 10% over the past month. However, it is still 8% down on the week and is down 45.7% since its January high of $293.31.

Bitcoin’s pullback from its May 22 all-time high of $111,814 coincides with the price dip, implying broader market trends are at play

Analysts still expect SOL to rebound after recent volatility. The upcoming Firedancer update of the network promises to increase its transaction speeds and ensure they scale way beyond one million transactions per second.

A successful update could help bring back investor faith and support future rallies. Since its $9 low in 2022, Solana has set the standard for bounce-backs. 

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