SHARJAH: Bybit, the world’s third most visited crypto exchange, has announced a new partnership with American University of Sharjah (AUS) in a move to further its commitment and advance crypto adoption in the UAE. The parties joined hands with a Memorandum of Understanding signed in Sharjah.

A Bybit contribution of AED 1,000,000 marks the first collaboration between AUS and the crypto exchange, establishing a scholarship fund, which will support 20 students to accelerate their academic and research career into fintech and blockchain at AUS. Eligible computer science and computer engineering students will benefit from the Bybit Scholarship as soon as this fall.

Bybit is also committed to broader initiatives including an extra AED 100,000 to sponsor a hackathon for the blockchain community in the UAE. The first AUS-Bybit Inter-College Hackathon will be held at the AUS College of Engineering in the 2023-2024 academic year.

The UAE has recognised crypto’s “major role for UAE trade” and the flourishing crypto and blockchain industry in the UAE is testimony to the leadership’s vision. Home to over 772 crypto companies in Dubai alone, the UAE is shaping up to be the epicenter of innovations in the digital assets industry and the demand for blockchain talent is expected to rise.

“AUS’ reputation as a center for education excellence stems in part from its strong industry links that allows it to continuously bridge gaps between industry and academia. Through this partnership with Bybit, our students will have access to the technical knowledge that helps them keep up with all that is novel in the crypto and blockchain industry, enhance their skills and support their education through the establishment of the Bybit Scholarship. At AUS, we graduate professionals and lifelong learners who are capable of making a difference in an ever-evolving world,” said Dr. Susan Mumm, Chancellor of AUS.

“Younger generations hold the key in driving the blockchain revolution forward,” said Ben Zhou, co-founder and CEO of Bybit. “We are pleased to create the Bybit Scholarship at AUS to help their talented students future-proof their knowledge and skills. We thank AUS for the opportunities to raise crypto awareness and share first-hand knowledge of the industry with students from one of the most prestigious universities in the region. I look forward to being inspired by the future engineers, blockchain scientists, and Web3 startup founders.”

Bybit unveiled its Dubai headquarters in April 2023.