ADGM Partners with Solana Foundation to Advance DLT Development

Abu Dhabi Global Market (ADGM) has inked a memorandum of understanding with the Solana Foundation to propel the advancement of distributed ledger technology (DLT). While specific measures were not disclosed, the collaboration aims to explore development opportunities within ADGM’s DLT Foundations Regulations. ADGM Registration Authority CEO Hamad Al Mazrouei expressed enthusiasm for the partnership, highlighting the importance of regulation and compliance in fostering robust and sustainable development in the blockchain space. ADGM, known for its innovative regulatory framework, introduced the DLT Foundations Regulations in November, positioning itself as a global leader in blockchain governance. Solana Foundation CEO Lily Liu emphasized the potential of the partnership to attract talent to Abu Dhabi and the broader Middle East region, underscoring Solana’s recent surge in popularity and developer activity. Despite recent technical challenges, including an outage in February, Solana continues to experience rapid growth and widespread interest in its blockchain platform. (Source: Cointelegraph)