RAK Establishes World’s First Digital Asset Free Zone
RAK Digital Assets Oasis, the first free zone for digital and virtual asset enterprises, will be launched by the Ras Al Khaimah government. Blockchain Life 2023 announced it on Monday. RAK Digital Assets Oasis will be a non-regulated virtual assets free zone that fosters innovation. It will be the first free zone in the world devoted to digital and virtual assets service providers developing in future sectors including metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related enterprises. RAK Digital Assets Oasis will accept applications in Q2 2023. Commenting on the new free zone, Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis, said: “We are proud to further the UAE’s position as a primary destination for innovation with the launch of RAK Digital Assets Oasis. We are building the free zone of the future for the companies of the future. As the world’s