DUBAI, UAE, May 12, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, and Ghaf Labs, a MENA-based Web3 boutique advisory and consultancy firm, have signed a Memorandum of Understanding (MOU) to enter a multi-year strategic partnership. The alliance aims to drive crypto adoption, ecosystem development, and real-world utility across the Middle East and North Africa (MENA).
This partnership underscores a shared mission to position the region as a global Web3 hub by enabling innovation, supporting regulatory clarity, and fostering meaningful use cases that integrate blockchain into daily life.
Ecosystem Growth and Startup Acceleration
Ghaf Labs, backed by Ghaf Capital Partners-Dubai's pioneering blockchain-focused private capital firm-offers tailored advisory and incubation services to Web3 ventures across MENA. With its strong regional network and regulatory insight, Ghaf Labs plays a key role in scaling blockchain projects in one of the fastest-growing digital economies.
Together, Bybit and Ghaf Labs will provide equity-free grants, startup support, and access to strategic resources for ventures exploring blockchain, AI, and sustainability-sectors central to the region's digital transformation.
"Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region - one where crypto isn't just adopted, but lived," said Helen Liu, COO and Partner of Bybit. "From developer tooling to lifestyle integration, we're building the bridges that bring crypto into everyday life."
Investing in Talent and Community
The collaboration will also launch a series of education initiatives designed to nurture local Web3 talent. These include university partnerships, bootcamps, and developer hackathons, all aimed at empowering the next generation of blockchain builders.
Additionally, both parties will co-develop educational content to improve Web3 literacy across Arabic- and English-speaking communities in the region.
"This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets."
- Feras Al Sadek, Co-Founder and Managing Partner at Ghaf Labs
Lifestyle, Payments, and Cultural Impact
Beyond development, the partnership highlights the real-world utility of crypto through lifestyle applications like the Bybit Card. This product connects digital assets with premium experiences, including exclusive access through partners such as Grand Millennium Hotels in Dubai-demonstrating the role of crypto in elevating travel, luxury, and everyday spending.
The alliance will also elevate the regional event scene, co-branding marquee events like The Crypto Polo Cup and Crypto Fight Night. These gatherings merge luxury, sport, and Web3 culture to amplify awareness and engagement.
With this MOU in place, Bybit and Ghaf Labs will jointly explore innovation funding, institutional integration, and blockchain-powered use cases across finance, hospitality, education, and beyond-contributing to a resilient Web3 infrastructure in MENA.
This strategic collaboration reinforces the UAE's status as a forward-thinking jurisdiction and reflects Bybit's long-term investment in the region's digital future.
Bybit / TheCryptoArk
About Ghaf Labs
Ghaf Labs is a boutique consultancy and advisory firm that specializes in web3 ventures, which are projects that use blockchain and decentralized technologies to create a more open, fair, and secure internet. Ghaf Labs helps web3 ventures expand their presence and adoption in the Middle East and North Africa (MENA) region, by providing them with market insights, strategic partnerships, regulatory guidance, and community building.
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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