ADGM Signs MoU with Hacken to Enhance Blockchain Security and Compliance Standards

Updated April 26, 2024 1 min read

ADGM Signs MoU with Hacken to Enhance Blockchain Security and Compliance Standards

ADGM Signs MoU with Hacken to Enhance Blockchain Security and Compliance Standards

ADGM Signs MoU with Hacken to Enhance Blockchain Security and Compliance Standards

📍 Abu Dhabi UAE ADGM

Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, UAE, has partnered with Hacken.io, a company specializing in blockchain security auditing, to enhance blockchain security and compliance standards. This collaboration was formalized through a Memorandum of Understanding (MoU) signed by both parties.

The MoU outlines a cooperative effort between ADGM's Registration Authority (RA) and Hacken to develop security standards and on-chain monitoring solutions. These initiatives are part of ADGM’s Distributed Ledger Technology (DLT) Foundations framework. The partnership aims to position ADGM and Hacken as leaders in creating a secure blockchain environment.

Key areas of collaboration under the MoU include:

  • Development of security and compliance standards.
  • Implementation of advanced monitoring arrangements for DLT Foundations.
  • Creation of AI-enhanced monitoring solutions.

Hamad Sayah Al Mazrouei, CEO of ADGM RA, stated that the partnership aims to leverage blockchain and AI technologies to set new global standards in regulatory compliance and security. Dyma Budorin, Co-Founder and CEO of Hacken, expressed gratitude for the opportunity to collaborate with ADGM and highlighted the importance of their combined efforts in setting new benchmarks for blockchain security and compliance.

ADGM, established on October 21, 2015, serves as a strategic link between the Middle East, Africa, South Asia, and other global markets. It operates under an international regulatory framework based on English Common Law and is recognized as a leading financial center in the region and a significant virtual assets hub.