Abu Dhabi Solana Foundation Distributed Ledger Technology (DLT)

Abu Dhabi Global Market (ADGM) and Solana Foundation have joined forces to develop distributed ledger technology (DLT) in the Middle East. name Released on February 7th.

Although specific details remain confidential, the partnership will explore opportunities within ADGM’s recently announced DLT framework regulations.

The collaboration aims to leverage ADGM’s growing blockchain ecosystem and Solana’s thriving developer community.

“The strategic partnership with the Solana Foundation is an important milestone that solidifies ADGM’s leadership in the blockchain sector and directly reflects the effectiveness of the DLT Foundation framework and our commitment to the growth and development of the blockchain sector.” highlighted Hamad Al Mazrouei, CEO of ADGM Registry.

See also: First, Abu Dhabi Bank has completed testing of JPMorgan Onyx for cross-border payments.

In November 2023, ADGM solidified its commitment to fostering innovation in a responsible manner by establishing the world’s first dedicated blockchain-based regulatory framework.

This partnership builds on ADGM’s impressive trajectory. Launched in 2015, the International Financial Center has fostered a vibrant cryptocurrency ecosystem, housing major companies such as Binance, Rain, and Nomura Bank subsidiaries.

Solana has also seen significant growth with a surge in user interest and developer adoption.

“Our close collaboration with ADGM is an important step forward in the continued growth of blockchain adoption across the region and advances the Solana Foundation’s goal of fostering innovation, security, and widespread adoption on the Solana Network in the Middle East.” Solana Foundation CEO Lily Liu highlighted the partnership’s potential to attract local talent.

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