Abu Dhabi Global Market and Polygon Labs Join Forces to Establish International Token Disclosure Standards
ADGM, Abu Dhabi – 10 December 2024
Abu Dhabi Global Market (ADGM), a leading International Financial Centre (IFC), and Polygon Labs, an international software development company building and developing a network of aggregated blockchains via the AggLayer, today announced a collaboration aimed at advancing blockchain innovation by developing an international token disclosure process that ensures transparency, security, and trust within the Web3 ecosystem.
This initiative builds on ADGM’s pioneering Distributed Ledger Technology (DLT) Foundations Regulations—the first of its kind globally—to create a robust framework for Blockchain Foundations and Decentralised Autonomous Organisations (DAOs). The partnership aligns with ADGM’s vision of positioning Abu Dhabi as a global hub for technology-driven financial services, setting new standards for regulatory clarity and fostering innovation in the blockchain space.
Hamad Al Mazrouei, CEO of ADGM Registration Authority, stated:
“Our collaboration with Polygon Labs underscores ADGM’s commitment to shaping the future of blockchain through innovation and regulatory leadership. By establishing a standardized token disclosure process, we aim to promote transparency and build confidence in blockchain technologies while reinforcing Abu Dhabi’s position as a hub for blockchain and Web3 innovation. Polygon Labs brings unparalleled expertise in blockchain scaling and adoption, and together we look forward to driving transformative change in the global blockchain landscape.”
Sandeep Nailwal, Polygon Founder, commented:
“Polygon’s mission has always been to make blockchain technology accessible and impactful on a global scale, empowering users and institutions to shape a more open and equitable internet. ADGM’s forward thinking regulatory approach and unwavering support for innovation align perfectly with this vision. Together, we’re not only establishing new benchmarks for transparency and disclosure but also creating a foundation for trust that allows users, developers, and institutions worldwide to engage with blockchain systems confidently. This collaboration is a critical step forward in advancing the global adoption of Web3 technologies.”
This collaboration will also explore additional opportunities to strengthen Abu Dhabi’s position as a leader in blockchain innovation. Polygon Labs’ expertise in building interconnected and scalable blockchain ecosystems via the AggLayer will complement ADGM’s regulatory initiatives to create a thriving environment for blockchain adoption.
ADGM remains at the forefront of fostering technological innovation, supporting the evolution of digital assets, and enabling the sustainable growth of blockchain technologies within the UAE and beyond.
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Filed under: News - @ December 10, 2024 1:22 pm