Dubai-based startup ecosystem Ignyte has announced the winner of its “Build on Solana” challenge, a competition launched in partnership with the Solana Foundation to identify high-potential innovators in the crypto space. Ryder, a startup focused on simplifying crypto self-custody, secured the top spot and the accompanying $10,000 grand prize. The challenge highlights the growing synergy between UAE-based ecosystem enablers and global blockchain protocols aimed at fostering the next generation of Web3 development.
Redefining Crypto Self-Custody
The winning project, Ryder, distinguished itself by addressing one of the most significant barriers to entry in the cryptocurrency market: complex security management. Ryder is a hardware wallet manufacturer that utilizes proprietary “TapSafe” recovery technology. This innovation allows users to secure digital assets without the traditional stress of managing paper seed phrases, replacing them with a system involving recovery tags and contacts.
Ryder’s flagship device, the Ryder One, is an NFC-enabled, 100% offline hardware wallet protected by an EAL6+ Secure Element chip. By combining bank-grade security with a user-friendly interface, Ryder aims to make self-custody accessible to a broader audience, including institutions and everyday users. Their solution supports major ecosystems including Bitcoin, Ethereum, and Solana, aligning perfectly with the challenge’s goal of pushing the boundaries of the crypto ecosystem.
Fostering High-Performance Blockchain Builders
The “Build on Solana” challenge was executed in collaboration with Superteam UAE and the Solana Foundation, focusing on leveraging high-performance blockchain technology to solve real-world problems. The initiative reflects Ignyte’s broader mandate to curate opportunities for startups by connecting them with leading technology partners and investors. By providing a platform for finalists to showcase their solutions, Ignyte continues to drive the adoption of decentralized technologies within the region, supporting the UAE’s vision of becoming a global hub for the digital economy.
About Ignyte
Ignyte is a global start-up ecosystem, guided under the vision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence of the UAE, and Chairman of The Higher Committee for Future Technology and Digital Economy. The platform aims to connect 100,000 start-ups with over 5,000 investors and mentors to help them scale smarter, faster, and safer.
Source: Ignyte
