December 11, 2024
Chainlink Labs has officially announced the establishment of an entity in the Abu Dhabi Global Market (ADGM), marking its entry into the Middle East and North Africa (MENA) region. This development positions the blockchain-first company to meet the growing demand for DeFi solutions in the region.
The strategic expansion is in line with the region’s accelerating adoption of blockchain technologies and tokenized assets in the financial sector. Chainlink joins a growing list of ecosystems investing in the MENA region, signaling the region’s growing importance in the global blockchain landscape.
Chainlink Joins the Blockchain Adoption Wave in the MENA Region
The announcement is in line with Abu Dhabi’s growing reputation as a global hub for blockchain innovation. ADGM’s advanced regulatory framework reinforces this position. Chainlink Labs’ expansion into ADGM reflects the growing importance of blockchain-based solutions in modern finance.
Chainlink Labs is known for its pioneering work in verifiable data and cross-chain interoperability (CCIP). It plans to leverage its presence in Abu Dhabi to deepen its network of strategic partnerships with financial institutions and infrastructure providers.
Furthermore, the company aims to support the growing demand for tokenized assets. Other plans include facilitating the adoption of blockchain technologies across the region.
“Chainlink Labs’ presence in ADGM highlights the growing demand for blockchain-based financing solutions and tokenized assets,” said Hamad Sayah Al Mazrouei, CEO of the ADGM Registration Authority.
Similarly, Angie Walker, Head of Global Banking and Financial Markets at Chainlink Labs, emphasized the growing demand for tokenized assets. Walker is also the Senior Executive Officer at Chainlink Labs Abu Dhabi. She noted that the MENA region is a global destination for innovators and a hub for blockchain-based finance adoption.
“We are excited to expand Chainlink’s global footprint by establishing a presence in Abu Dhabi and working closely with the region’s financial market infrastructure and key financial institutions to bring tokenized assets into production,” Walker added.
Alongside Chainlink, ADGM continues to attract prominent blockchain entities, further cementing its position as a leading international financial center. Polygon Labs, another major blockchain player, has also announced its registration with ADGM. Polygon is partnering with ADGM to create international disclosure standards aimed at enhancing transparency and trust within blockchain and Web3 ecosystems.
“The clarity of regulations and support for innovation in the ADGM aligns perfectly with Polygon’s mission to empower users and institutions around the world,” said Polygon founder Sandeep Nailwal. “Together, we are setting new standards for transparency and creating a foundation of trust that will drive global blockchain adoption.”
The partnership is expected to strengthen Abu Dhabi’s position as a hub for blockchain and Web3 innovation. The ADGM Distributed Ledger Technology (DLT) Regulations, the first of their kind in the world, will also complement the foundations. These regulations provide a robust framework for blockchain and decentralized autonomous organizations (DAOs).
Interest in ADGM’s blockchain-friendly environment continues to grow. There is also speculation that the Toon Foundation has set up operations under the ADGM’s DLT Foundation framework. This rumored addition would underscore Abu Dhabi’s appeal to global blockchain leaders.
Adding to this momentum, Tether recently announced that its stablecoin USDT has been recognized as an “Accepted Virtual Asset” (AVA) by the ADGM Financial Services Regulatory Authority. This recognition solidifies USDT’s role in supporting the region’s growing digital asset economy. It also enables seamless integration into financial markets operating within the ADGM.
Together, these developments reflect Abu Dhabi’s rapid positioning as a leader in blockchain innovation. This is supported by ADGM’s progressive regulatory approach. From hosting major blockchain players like Chainlink Labs and Polygon Labs to fostering a regulatory environment conducive to emerging technologies, the city is building a thriving ecosystem for digital assets.
With Chainlink Labs, Polygon Labs, and possibly the Toon Foundation all rooted in ADGM, Abu Dhabi’s vision to become a global leader in blockchain innovation appears within reach. With its supportive policies and growing community of blockchain pioneers, ADGM is laying the foundation for the next phase of digital finance.