Abu Dhabi Global Market has drawn a memorandum of understanding with Chainlink to explore blockchain regulation, tokenization and emerging technologies.
The agreement will support Blockchain projects that are registered with the worldwide market of Abu Dhabi by offering access to Chainlink’s infrastructure and expertise. It also contains plans for educational events on topics such as interoperability of cross-chain and the proof of reserves.
The partnership is intended to determine regulatory standards for blockchain and artificial intelligence. This could help to establish rules for how digital assets are made, transferred and managed, while compliance with financial regulations is guaranteed.
Abu Dhabi Global Market is an international financial center in the United Arab Emirates that regulates financial services and digital assets. Chainlink (Link) is a blockchain company that helps to connect data from practice with smart contracts, which are self-executive similarities on a blockchain.
Tokenization refers to the conversion of real assets, such as shares or real estate, in digital tokens that can be traded on a blockchain.
Chainlink has facilitated more than $ 19 trillion in transactions by providing data and blockchain interoperability services. With these services, different blockchain networks can communicate and share data. Many financial institutions use ChainLink’s technology to verify and secure blockchain transactions.
Hamad Sayah Al Mazrouei, CEO of the ADGM registration authority, said that the partnership would help shape global regulatory approaches and promote confidence in blockchain systems.
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Tokenization and interoperability
As part of the MOU, ADGM and Chainlink will organize workshops and discussions about tokenization, interoperability and emerging blockchain standards. These efforts are intended to inform companies and supervisors about the potential benefits and risks of blockchain.
ADGM wants to be a global hub for blockchain innovation by setting up regulatory frameworks for decentralized ledger technology and working together with Chainlink to create a compliant and scalable ecosystem for digital assets and Defi.
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