Adgm, chainlink sign mou to explore compliant tokenisation rules, cross-also interopeability

The Abu Dhabi Global Market (ADGM) has signed an mou with chainlink to enhance web3 Awareness and Explore Advanced Blockchain Use Cases. Announced on March 24, The Partnership Marks Adgm’s Deeper Engagement with Web3 Solutions, Focusing on Cross-Chan Interoperability and Tokenized Asset Utility. Chainlink will contribute its Technical Expertise and Industry Insights to Support the Research. Based on their findings, both entities plan to propose regulatory frameworks for blockchain adoption.

ADGM, An International Financial Center in Abu Dhabi, introduced A virtual asset regulatory framework in 2018 and is now home to over 2,000 companies. Meanwhile, chainlink is a decentralized oracle network

As part of the partnership, chainlink has committed to providing its advanced suite of services to enjoy the utility of tokenized assets while enrsrating compliance, adgm stated in its announsement,

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs Has Hinted That The Partnership will focus on Incubating and Sustaining Projects Around Tokenisation with the adgm.

“Our alliance will eat the blockchain ecosystem in the uae, driving innovation and adoption,” Walker said.

This development comes as interest in asset tokenisation surges in the uae. Tokenised assets-PHYSICAL Properties Converted Into Blockchain-Based Digital Tokens-Enhance Liquidity, and Simplife Trading. Market Analytics Firm Mordor Intelligence estimates That the global asset tokenisation market could bring $ 2.08 trillion (roughly Rs. 1,78,34,991 Crore) in 2025 and Exced $ 13.5 trillion (Routhly Rs. 11,57,50,57,50,069 CRESES.

Just last week, The Dubai Land Department (DLD) said it plans to explore real estate tokenisation, aiming to streamline property transactions.

Under the mou, adgm and chainlink will collaborate on regulatory discusations and Educational Initiatives. In the coming months, they plan to host a series of eveies and work to inform businesses and retail investors about the evolving tokenisation landscape.

“By collaborating with chainlink, we are aiming to set a global benchmark that spearheads transparency, security, and Trust across the blockchain space,” Said Sayh Al Maazroei, Ceo of Adgm Registration authority. The topic of Artificial Intelligence (AI) will also be on the ageda for the two parties.

The UAE government is planning to revamp several of its private and public services with blockchain technologies. It has also initiated Pro-Web3 Talks With the Us.