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– Binance CEO Richard Teng emphasizes collaboration with Ignyte and DIFC to accelerate Web3 growth.

The companies have joined forces to provide startups with training, mentorship from industry leaders and practical tools.

BNB and Futures doubled in value through new partnerships and tokenization.

Richard Teng said on Wednesday that the cryptocurrency exchange is working closely with global startup ecosystem Ignyte.

This comes at the same time as the exchange is leading a new wave of cryptocurrency adoption in partnership with governments and institutions, building and supporting the BNB ecosystem.

the latest partnership will further strengthen and address the challenges faced by the Web3 community in the UAE.

The exchange aims to provide startups with educational materials, mentorship from industry experts and practical solutions to foster innovation and growth.

The world’s largest cryptocurrency exchange Binance announced in an official statement on October 1 that it has become the first platform to partner with Ignyte, a global startup ecosystem supported by the DIFC as part of the UAE’s digital economy strategy.

Richard Teng published a post on X to inform the crypto community about the new momentum for Web3 in the UAE.

He noted that Web3 does not supplant Web2, but is more focused on giving users back control over their data, identity and participation in the economy.

The partnership will give startups access to Binance developer tools, Binance Academy training modules and expert mentorship.

This can accelerate innovation, attract investment and foster entrepreneurship in Web3 by providing knowledge and infrastructure to the community.

the Partnership will launch a major Binance hackathon with a $25,000 prize pool, incentivizing teams and developers to create new blockchain solutions; finalists will have the opportunity to pitch their projects to leading investors and policy makers.

APIs for developers and network integration tools will expand the use of BNB Chain, which is currently leading the way in tokenization.

As previously reported by Coin Republic, BNB Chain has partnered with Ondo Finance to list tokenized U.S. stocks, ETFs and funds on its platform.

Last month, Binance partnered with Franklin Templeton to develop digital products combining traditional and decentralized finance; Franklin Templeton hosted its Benji tokenization platform on BNB Chain.

Special training modules, technical workshops, training programs and mentoring help entrepreneurs and teams meet the growth and development challenges of Web3.

BNB’s value has skyrocketed with recent partnerships around the world, especially in the UAE and Kazakhstan.

In March, the exchange attracted a $2 billion investment from Abu Dhabi-based MGX Group.

BNB was up more than 20 percent for the month and nearly 80 percent for the year; at the time of publication, the price was $1,024.75. In 24 hours, the low and high were $994.48 and $1,034.83, respectively.