International Association for Trusted Blockchain Applications to launch in MENA

The International Association for Trusted Blockchain Applications will be launching its development activities in the MENA region. Abu Dhabi Global Market and INATBA (International Association for Trusted Blockchain Applications) have signed an MoU launching a partnership to establish a chapter of INATBA in the MENA region.

ADGM announced the new partnership at its signature event, Fintech Abu Dhabi 2021, held on 22-24 November. Abu Dhabi Global Market promotes economic and financial sector growth through a world-class innovation centre. Established by United Arab Emirates Federal Decree, ADGM’s jurisdiction extends across Al Maryah Island. ADGM's four independent authorities - the ADGM Authority, the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and ADGM Courts - ensure that the centre’s business-friendly environment operates in line with international best practices, recognised by major financial centres worldwide.

INATBA (International Association for Trusted Blockchain Applications) convenes industry stakeholders, start-ups, SMEs, policymakers, international organisations, regulators, civil society and standard-setting bodies to support blockchain and DLT to be mainstreamed and scaled-up across multiple sectors worldwide. INATBA promotes the usage of blockchain technology by developing transparent and trust-based global frameworks across relevant topics in DLT, including finance, social impact, standards and more.

In response to the signing of the MoU, Juma Al Hameli Chief Strategy and Business Development Officer of ADGM said, “We are proud to sign this new MoU with INATBA and bring more policy awareness around blockchain and crypto-asset topics to the region. We have seen INATBA’s work with the European Commission and European Parliament and are excited to establish similar relationships with regional regulatory bodies.”

INATBA Executive Director Marc Taverner added: “Abu Dhabi is a hub for innovation and financial development. This partnership will be instrumental in strengthening our role as global convener of the blockchain system and establishing new relationships with government bodies.”

ADGM will assist the trade association in establishing relationships with companies, regulators and government stakeholders in the UAE and across MENA. INATBA, in turn, will lead policy engagement on behalf of ADGM members in the region. INATBA’s flagship event, Convergence 2.0, is planned to take place in the United Arab Emirates in 2022.