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The open market zone in Abu Dhabi, a new organization with an emphasis on blockchain and cryptocurrencies has been established with the goal of advancing the growth of blockchain and cryptocurrency networks throughout the Middle East, North Africa, and Asian areas.
Abu Dhabi Global Market (ADGM)
The Abu Dhabi Global Market (ADGM), a free economic zone located in the city's core and governed by a distinct set of civil and commercial rules, hosted the formal inauguration of the Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) on November 8. The zone's goal was to promote the development of fintech businesses in the United Arab Emirates (UAE). According to its website, the non-profit group will work to promote regulatory solutions, provide business possibilities, and make educational investments to assist industry growth. Board chairman Jehanzeb Awan, who founded a global risk and regulatory consulting business with a base in Dubai, will lead the organization.
Supporters of Group
Richard Teng, the regional head of Binance for the Middle East and North Africa (MENA), Stuart Isted, the general manager of Crypto.com for the Middle East and Africa, and Ola Doudin, the CEO of BitOasis, a cryptocurrency exchange in the area, are among those who support the Blockchain Association. Awan expressed his desire that the organization would foster a cooperative and neighborhood-based approach to promoting industrialization in the MENA area and produce far-reaching advantages for this very dynamic and vibrant environment.