Stacks Asia expands Bitcoin initiatives with Abu Dhabi partnership

The Stacks Asia DLT Foundation has go the archetypal Bitcoin-based enactment to found an authoritative beingness successful the Middle East, aiming to beforehand organization Bitcoin adoption done expanded acquisition initiatives.

Stacks Asia has partnered with the Abu Dhabi Global Market (ADGM) — 1 of the world’s fastest-growing fiscal centers — successful a determination that could boost the adoption of its Bitcoin (BTC) layer-2 (L2) solution successful the Middle East and Asia.

The caller concern volition play a “pivotal role” successful shaping the aboriginal of Bitcoin’s “programmability and adoption” successful these regions done acquisition programs and enactment for Bitcoin builders, according to an April 28 announcement shared with Cointelegraph.

Through the collaboration, Stacks and the ADGM purpose to marque it easier for institutions and investors to enactment successful the increasing Bitcoin system and assistance acceptable “new standards for regulatory clarity and method growth” for the rising planetary Bitcoin capital, according to Kyle Ellicott, enforcement manager astatine Stacks Asia DLT Foundation.

Stacks Asia DLT partners with ADGM. Source: Stacks Asia DLT Foundation

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“Stacks and ADGM are a almighty operation for accelerating Bitcoin adoption crossed the Middle East and Asia,” Ellicott told Cointelegraph, adding:

“ADGM has established itself arsenic a world-class planetary fiscal hub astatine the bosom of the United Arab Emirates, known arsenic the ‘Capitol of Capital,’ wherever superior and innovation are brought unneurotic to signifier the aboriginal fiscal landscape.”

“We’ll beryllium moving to alteration the motorboat of acquisition programs, determination developer communities, and make opportunities for the real-world adoption of Bitcoin-powered applications,” helium said.

Starting successful May, the instauration volition big a bid of unrecorded and virtual events to “empower institutions” with the cognition to integrate Bitcoin into their operations and larn astir the “opportunity of productive Bitcoin capital,” Ellicott added.

Related: Nomura crypto limb Laser Digital bags Abu Dhabi license

Stacks Foundation pushing for a “progressive” regulatory situation worldwide

As the starring Bitcoin scalability solution, Stacks is besides pushing for progressive planetary regulations that volition cement Bitcoin’s relation successful the aboriginal of the fiscal landscape.

“We’re not conscionable focused locally — our squad is engaged successful planetary conversations, advocating for frameworks that equilibrium decentralization, security, innovation, and compliance surrounding the unlocking of Bitcoin capital,” Ellicott said.

A cardinal portion of the strategy involves cognition sharing with section regulatory bodies to physique knowing among authorities officials astir Bitcoin’s characteristics and imaginable economical impact.

The instauration is besides processing the Bitcoin Capital Activation Framework, described arsenic a broad argumentation blueprint to assistance regulators alteration Bitcoin inferior successful their jurisdictions.

The Stacks Foundation volition besides motorboat the Bitcoin Policy Bridge successful May, a moving radical uniting regulators from each cardinal jurisdictions crossed the Middle East and Asia.

In February, ADGM signed a memorandum of knowing with the Solana Foundation to beforehand the improvement of distributed ledger technology.

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