Abu Dhabi Collaborates with Solana Foundation for DLT Development

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Abu Dhabi Global Market (ADGM) and the Solana Foundation have teamed up to speed up the growth of distributed ledger technology (DLT) in the Middle East.

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Abu Dhabi Global Market (ADGM) and the Solana Foundation have teamed up to speed up the growth of distributed ledger technology (DLT) in the Middle East. They released a statement on February 7th, announcing their collaboration. Although details are limited, the partnership aims to explore opportunities within ADGM’s newly launched DLT Foundations Regulations.


ADGM and Solana Forge Alliance to Boost Blockchain Development

Abu Dhabi Global Market (ADGM) and the Solana Foundation have united to accelerate blockchain development in the Middle East. Highlighting the collaboration’s significance, Hamad Al Mazrouei, ADGM Registration Authority CEO, emphasized the milestone in cementing ADGM’s leadership in the blockchain sector. The partnership aims to leverage ADGM’s growing blockchain ecosystem and Solana’s thriving developer community.

ADGM established the world’s first regulatory framework for blockchain foundations in November 2023, demonstrating its dedication to fostering innovation responsibly. This partnership further solidifies ADGM’s commitment to driving blockchain development.

ADGM, founded in 2015, has attracted major players such as Binance, Rain, and Nomura Bank’s subsidiary, contributing to a vibrant crypto ecosystem. This collaboration enhances ADGM’s impressive trajectory in becoming a hub for blockchain innovation.

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Solana has experienced substantial growth, with increased user interest and developer adoption. Solana Foundation CEO Lily Liu highlights the partnership’s potential to advance blockchain adoption in the region and attract talent, underscoring the commitment to innovation, security, and widespread adoption on the Solana network in the Middle East.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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