Stacks Asia DLT Foundation has announced the establishment of its presence in Abu Dhabi, underscoring the growing adoption of Bitcoin in the Middle East and Asia.
Establishment in ADGM
The Stacks Asia DLT Foundation became the first Bitcoin-based organization registered in the Abu Dhabi Global Marketplace (ADGM). This expansion supports Bitcoin layer-2 technologies in the region based on ADGM's flexible Distributed Ledger Technology framework.
Collaboration and Regional Impact
The foundation plans to collaborate with local partners to provide educational programs and support initiatives aimed at empowering builders in the Bitcoin ecosystem. "Our presence in ADGM allows us to bridge the gap between Asia-Pacific and the UAE," said interim Executive Director Kyle Ellicott.
Advancing Bitcoin Education and Utility
Stacks Asia DLT Foundation is focused on promoting Bitcoin education and utility across the region. The launch of sBTC, a Bitcoin-backed asset, provides new opportunities for decentralized finance, allowing users to engage in activities such as lending and trading.
The registration of the Stacks Asia DLT Foundation in ADGM highlights the development of Bitcoin-based technologies and opens new avenues for their application in the Middle East and Asia.
