Abu Dhabi Global Market (ADGM) has recently made waves by announcing the enrollment of IOTA as the pioneer foundation under its Distributed Ledger Technology (DLT) foundation regime.
As part of this regime, ADGM has announced a Memorandum of Understanding (MOU) with the Solana Foundation, a non-profit organization dedicated to decentralization, adoption, and security on the Solana network.
This marks another significant step in ADGM’s efforts to foster innovation and growth within its jurisdiction. The partnership with the Solana Foundation underscores ADGM’s commitment to establishing itself as a leading hub for blockchain technology. By leveraging the expertise and resources of prominent blockchain organizations like Solana, ADGM aims to create an environment conducive to the adoption and advancement of DLT solutions.
Hamad Al Mazrouei, CEO of ADGM Registration Authority, said, “Our strategic alliance with the Solana Foundation marks a key milestone in cementing ADGM’s leadership in the blockchain sector, and represents a direct reflection of the effectiveness of our DLT Foundations Framework and our commitment to the growth and the development of the blockchain sector. We are excited to partner with Solana to pioneer the future of technology, and further enhance the level of knowledge in the space of blockchain by emphasizing on the value of regulation and compliance in ensuring robust and sustainable development. We are confident that this significant collaboration will lead to bolstering the blockchain ecosystem and driving further innovative initiatives in Abu Dhabi and the UAE.”
The UAE has emerged as a global hub for innovation and adoption of blockchain technology, said Lily
Liu, President of the Solana Foundation. “Working closely with ADGM is a significant step forward in
the continued growth of blockchain adoption in the region as a whole, and advances the Solana
Foundation’s goal of fostering innovation, security, and widespread adoption on the Solana network
in the Middle East.”
With this partnership, ADGM’s proactive approach towards forging alliances with key players in the blockchain space demonstrates its dedication to driving progress and development in the industry.
According to ADGM, it remains dedicated to fostering technological innovation and promoting the growth of cryptocurrency initiatives within the evolving digital asset industry.