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Dominica To Launch A Native Token In Partnership With Huobi

Huobi has teamed with the Commonwealth of Dominica to provide a digital identity and national token service that would grant the West Indian island country digital citizenship.

The government will collaborate with Huobi to create Dominica Coin (DMC) and Digital Identity (DID), with DMC holders receiving digital citizenship in the country. DMC and DID will be issued on Huobi Prime and run on the TRON network, serving as credentials for a future Dominica-based metaverse platform.

Through the BitTorrent Chain bridge, DMC tokens will be cross-chain interoperable with the Ethereum and BNB Smart Chains. DMC and DID will be airdropped to Huobi Prime registered users.

Dominica, not to be mistaken with the bigger Dominican Republic, has a population of 72,000 people and is located in the Lesser Antilles archipelago. The government intends to investigate metaverse and Web3 technologies in order to accelerate its growth and recruit expertise from the cryptocurrency and blockchain ecosystems.

Huobi unveiled three strategies, namely globalization, technology-driven development, and technology for good, on November 22, 2022, in an effort to build a Web 3.0 gateway with the industry.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.