Chainlink and Abu Dhabi Global Market ally to boost the utility of tokenized assets in the UAE

• The price of Chainlink is around $15.15 on Tuesday following a 4.56% increase the previous day.
• LINK and the Abu Dhabi Global Market (ADGM) have formed a partnership to enhance the usefulness of tokenized assets in the UAE while maintaining regulatory adherence.
• Chainlink has exceeded $20 trillion in transaction value enabled, indicating swift adoption in on-chain finance.

At the time of this writing, Chainlink (LINK) is priced at approximately $15.15 on Tuesday after a rise of 4.56% the day before. LINK has teamed up with Abu Dhabi Global Market (ADGM) to improve the utility of tokenized assets in the United Arab Emirates (UAE) while ensuring compliance with regulations. Furthermore, Chainlink has surpassed the milestone of $20 trillion in transaction value enabled, reflecting a rapid shift towards on-chain finance.

Chainlink seeks to enhance the utility of tokenized assets in the UAE

Chainlink has announced a partnership with Abu Dhabi Global Market, recognized as Abu Dhabi’s leading international financial center. The ADGM has signed a Memorandum of Understanding (MoU) with Chainlink, which is regarded as the benchmark for on-chain finance, representing a significant stride in advancing compliant tokenization frameworks.

According to an ADGM statement, “This partnership will bolster innovative projects under ADGM’s Registration Authority by utilizing Chainlink’s technical knowledge, industry expertise, and an array of advanced services to maximize the utility of tokenized assets while ensuring regulatory compliance.”

Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, stated, “This strategic partnership is a crucial development in further reinforcing ADGM’s leadership in fostering blockchain innovation and aligning regulatory approaches on a global scale. By collaborating with Chainlink, we aim to establish a global standard that promotes transparency, security, and trust within the blockchain arena.”

Chainlink’s on-chain metrics reveal that LINK has surpassed $20 trillion in transaction value enabled (TVE), emphasizing a swift uptake in on-chain finance. Chainlink’s collaborations with notable financial entities such as Frankfurt-based fintech firm 21X, Emirates NBD banking group, and the US Depository Trust and Clearing Corporation (DTCC) underscore its expanding influence in bridging traditional finance with blockchain technology, contributing to this significant TVE growth.