Abu Dhabi Global Market (ADGM), a leading financial free zone overseeing financial firms managing over $635 billion in assets, has signed a Memorandum of Understanding (MoU) with blockchain oracle provider Chainlink.
The partnership, announced on March 24, aims to integrate Chainlink’s technology into ADGM’s ecosystem, strengthening the connection between traditional finance and blockchain innovation.
Through this collaboration, ADGM will gain access to Chainlink’s suite of tools, including real-time data feeds and interoperability solutions. The agreement also seeks to foster discussions on blockchain, artificial intelligence, and emerging technologies in the region, reinforcing Abu Dhabi’s position as a leader in financial innovation.
Established in 2015, ADGM operates as a financial-free zone under its own legal framework based on English Common Law. By the end of 2024, it had grown into a powerhouse, hosting 134 asset and fund managers overseeing 166 funds. The number of financial institutions within its jurisdiction reached 275, with 79 new firms—including industry giants like BlackRock, PGIM, and Morgan Stanley—setting up operations.
The UAE has seen a surge in cryptocurrency adoption, driven by government support for emerging technologies. In 2024, crypto app downloads in the country increased by 41% compared to the previous year. The UAE also ranked third globally in the Henley Crypto Adoption Index 2024, highlighting its growing prominence in the digital asset space.
Abu Dhabi, in particular, has become a focal point for crypto-related developments. In December 2024, ADGM’s Financial Services Regulatory Authority officially recognized Tether’s USDT stablecoin as an accepted virtual asset, paving the way for its integration into the region’s financial ecosystem.
Further solidifying ADGM’s role in the blockchain space, the Aptos Foundation revealed plans in December 2024 to open a regional office within the financial zone. This move signified a major step in expanding the Aptos ecosystem and advancing Web3 innovation. The Abu Dhabi office was set to serve as a hub for regional partnerships and blockchain projects, aligning with the UAE’s forward-thinking policies and thriving innovation culture.
As Abu Dhabi strengthens its position as a global blockchain hub, partnerships like the one between ADGM and Chainlink highlight the increasing convergence of traditional finance and decentralized technologies. With regulatory clarity and growing institutional interest, the UAE is solidifying its role as a leader in digital finance.
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