- A total subsidy pool of $200,000 will be made available to qualified firms within the ecosystem, and as part of the cooperation.
- The alliance comes at a time when the regulation of digital assets in the United Arab Emirates and worldwide has transitioned from an exploring phase to an active period of enforcement that spans many jurisdictions.
CertiK, the largest provider of Web3 security services, made the announcement today that it has been chosen to be an official vendor for Hub71, a global technology ecosystem that is headquartered in Abu Dhabi Global Market (ADGM). As a result of the relationship, firms who are part of the Hub71 portfolio will have preferential access to the security and compliance services offered by CertiK as they establish and scale in one of the digital asset hubs that is expanding at the fastest rate in the globe.
A total subsidy pool of $200,000 will be made available to qualified firms within the ecosystem, and as part of the cooperation, companies that are part of the Hub71 portfolio will be entitled to enjoy a discount of twenty percent across the whole spectrum of services offered by CertiK. Free access to the CertiK Compliance Tool, which is CertiK’s platform for negotiating license applications, including those with the ADGM Financial Services Regulatory Authority (FSRA) and the UAE Central Bank, as well as for maintaining ongoing regulatory compliance, will also be provided to entrepreneurs who are part of the Hub71 program.
The alliance comes at a time when the regulation of digital assets in the United Arab Emirates and worldwide has transitioned from an exploring phase to an active period of enforcement that spans many jurisdictions. As a result of this transition, the stakes for license preparedness, anti-money laundering compliance, and smart contract security have been elevated from the very beginning for early-stage enterprises, rather than being worries that arise later on.
Hub71 firms will have direct access to CertiK’s portfolio of services, which includes smart contract audits, penetration testing, and continuous security monitoring. Additionally, they will get compliance assistance that is customized to the licensing routes that are most relevant to companies who are constructing in and around ADGM. In order to reduce the amount of time and money that is generally involved with multi-jurisdictional licensing, the CertiK Compliance Tool was developed because it is intended to assist founders in tracking requirements across countries as they grow their business abroad.
CertiK’s reputation as a trusted security and compliance partner for high-growth digital asset ecosystems throughout the world is strengthened as a result of this relationship, which also represents Hub71’s ongoing commitment in providing portfolio firms with access to the infrastructure and knowledge required to develop in a responsible manner.
In order to assist ambitious companies in building, scaling, and accessing new markets from the United Arab Emirates, Hub71 was established as Abu Dhabi’s global technology ecosystem. With its headquarters located inside Abu Dhabi Global Market and supported by Mubadala, ADQ, and ADGM, Hub71 facilitates connections between founders and financing, corporate and government partners, and a growing community of technology firms operating in high-growth industries such as finance, Web3, and artificial intelligence. Since it was first established, Hub71 has provided hundreds of new businesses with access to capital, assistance in establishing their businesses, and a network that is intended to speed up their expansion in the area and beyond and beyond.
