Abu Dhabi Global Market (ADGM) signed a partnership agreement with the Solana Foundation to expand the adoption of distributed ledger technology (DLT) projects in the region.
Abu Dhabi Global Market (ADGM), a leading international financial center, signed a memorandum of understanding (MOU) with the Solana Foundation. The collaboration’s objective is to enhance DLT-based solutions and promote innovations.
Through the collaboration with Solana, ADGM plans to extend its international projects. According to Hamad Al Mazrouei, CEO of the ADGM Registration Authority, the partnership will not only strengthen the financial center’s leadership in DLT development in the region but will also enhance the knowledge of local blockchain experts.
The collaboration will address various regulatory and compliance aspects introduced in the international financial free zone of Abu Dhabi at the end of last year.
According to Lily Liu, President of the Solana Foundation, the collaboration with ADGM is another significant step for the company’s entry into the Middle East market. Solana plans to comprehensively promote DLT-based financial technology innovation and security in the region this year.
Last year, Solana agreed on a mutually beneficial partnership with the Dubai Multi Commodities Center (DMCC).