Chainlink Partners with Abu Dhabi Global Market

Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding (MoU) with the leading oracle provider, Chainlink, marking the latest step in the United Arab Emirates' embrace of crypto.

ADGM announced the initiative, which aims to advance tokenization frameworks within the country’s financial rails, specifically those under ADGM’s regulatory arm, the registration authority.

The UAE’s latest crypto move comes just weeks after Abu Dhabi-based investment fund MGX invested $2 billion into Binance. In February, the Mubadala sovereign wealth fund disclosed a $437 million stake in Blackrock’s IBIT ETF acquired in 2024.

ADGM is Abu Dhabi’s predominant financial free zone and was established in 2013. It provides infrastructure and assistance to entities conducting international business, hosts multiple sovereign wealth funds, and also claims to have introduced the “world’s first comprehensive crypto asset regulatory framework.”

“This strategic alliance is a significant step in further solidifying ADGM’s leadership in enabling blockchain innovation and enhancing alignment in the regulatory approach globally. By collaborating with Chainlink, we are aiming to set a global benchmark that spearheads transparency, security, and trust across the blockchain space,” said Hamad Sayah Al Mazrouei, CEO of ADGM’s registration authority.

Chainlink's LINK token is up 2% today and 14% in the past week.