Polygon has announced a strategic partnership with Abu Dhabi Global Market (ADGM). This partnership aims to establish international standards for token disclosure. In doing so, both partners strive to improve security and increase trust in the rapidly evolving Web3 ecosystem. Polygon is a leading blockchain development company, while ADGM is a leading international financial center.
We are joining forces with Abu Dhabi Global Market (@ADGlobalMarket) to create international standards for token disclosure, promoting transparency, trust and security in Web3.
Together we are shaping the future of blockchain innovation and adoption: https://t.co/ZDuB9GGreS
— Polygon (※,※) (@0xPolygoon) December 10, 2024
Promoting Blockchain Innovation through Standardization
This initiative builds on ADGM’s Distributed Ledger Technology (DLT) Foundations Regulations. DLT Foundations Regulations are the world’s first comprehensive framework. It is designed to govern blockchain foundations and decentralized autonomous organizations (DAOs).
By working with Polygon, ADGM aims to refine and expand these regulations. It aims to promote a standardized approach to disclosures within the blockchain industry. This effort is expected to address existing complexities and set new benchmarks for regulatory clarity. By doing this, it ultimately facilitates the sustainable growth of blockchain technologies.
Polygon’s role in shaping the future of Web3
Polygon Labs is known for its scalable and interoperable blockchain solutions. It brings extensive expertise to this collaboration with ADGM. The company’s commitment to making blockchain technology accessible fits seamlessly with ADGM’s vision. The vision is to position Abu Dhabi as a global hub for technology-driven financial services. By working together, both entities aim to create a robust foundation for blockchain innovation. They aim to ensure that users, developers and institutions around the world can confidently and securely interact with blockchain systems.
Hamad Al Mazrouei, CEO of ADGM Registration Authority, emphasized the importance of this partnership. He said: “Our partnership with Polygon Labs underlines ADGM’s commitment to shaping the future of blockchain through innovation and regulatory leadership.”
Similar comments are made by Sandeep Nailwal, founder of Polygon. He says: “Together we will not only set new standards for transparency and disclosure, but also create a foundation for trust that will allow users, developers and institutions around the world to confidently interact with blockchain systems.”
This collaboration represents an important step toward unifying global blockchain standards. It strengthens Abu Dhabi’s position as a leader in blockchain and Web3 innovation. As the blockchain landscape continues to evolve, such partnerships are critical. These partnerships are important to ensure that technological progress is accompanied by robust regulatory frameworks. The frameworks that promote transparency, security and trust.
Credit : cryptonews.net
