Abu Dhabi Global Market partners with Polygon Labs to create International Token Disclosure Standards

Abu Dhabi Global Market, the international financial center in Abu Dhabi, is collaborating with Polygon Labs to create an international token issuance process for the web3 ecosystem.

According to the press release obtained by crypto.news, ADGM aims to use the international token issuance process to enhance the already existing Distributed Ledger Technology Foundations Regulations to create a foundation for blockchains and Decentralized Autonomous Organizations.

DLT Fundamentals Regulations were launched in 2023 to address the complexities of the blockchain ecosystem, enabling the operation and issuance of tokens by DAOs and blockchain foundations.

ADGM’s collaboration with Polygon Labs is aligned with its goal to further strengthen Abu Dhabi as a global hub for technology-driven financial services, setting new standards for regulatory clarity and driving innovation in the blockchain space.

Hamad Al Mazrouei, CEO of ADGM Registration Authority, explained that the aim of creating a standardized token disclosure process is to increase transparency and build trust in blockchain technologies.

He added that the process also serves to strengthen Abu Dhabi’s position as a hub for blockchain and web3 innovation.

“Our collaboration with Polygon Labs underlines ADGM’s commitment to shaping the future of blockchain through innovation and regulatory leadership,” said Al Mazrouei.

Sandeep Nailwal, Founder of Polygon, said that ADGM’s innovation-centric thinking and approach towards regulatory frameworks is in line with the project’s own vision. Therefore, Nailwal believes that collaboration with ADGM can help make blockchain technology more accessible on a global scale.

“We are not only setting new benchmarks for transparency and disclosure, but we are also building a foundation of trust that allows users, developers, and institutions worldwide to safely interact with blockchain systems,” Nailwal said.

In addition to the international token disclosure process, the collaboration will explore other areas that could potentially strengthen Abu Dhabi’s position as a leader in blockchain innovation.

Polygon Labs’ experience in building interconnected and scalable blockchain ecosystems through AggLayer will complement ADGM’s regulatory initiatives in shaping the right environment for blockchain adoption.

ADGM is committed to promoting technological innovation, supporting the development of digital assets and ensuring the sustainable growth of blockchain technologies in the UAE and beyond.