The Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding with Chainlink to integrate traditional finance with blockchain data and promote new technologies in the region.
ADGM and Chainlink Partnership
Under the new agreement, ADGM will be able to use Chainlink's tools, such as data feeds and interoperability technology. The partnership aims to encourage discussions around blockchain, artificial intelligence, and other technologies in the region.
Development of ADGM Financial Zone
Opened in 2015, ADGM is a financial free zone in the United Arab Emirates, operating under its civil and commercial legal system based on English Common Law. ADGM plays a central role in attracting global firms and expanding Abu Dhabi's financial services sector.
Growth of the Cryptocurrency Market in the UAE
Cryptocurrency adoption in the UAE is rising, supported by government openness. In 2024, crypto app downloads increased by 41% compared to 2023. In December 2024, the ADGM Financial Services Regulatory Authority officially recognized Tether's USDT as a virtual asset, facilitating its integration into the local financial system.
ADGM's collaboration with Chainlink and the active adoption of cryptocurrencies indicate that the UAE is positioning itself as a leader in blockchain technologies and digital finance.
