Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital, and Hacken, a global enabler of blockchain security auditing, have signed a Memorandum of Understanding (MoU) to set new benchmarks for blockchain security and compliance.
This partnership reflects a synergy “between a regulatory body and a security auditor aimed at establishing a world-leading security assessment standard in the blockchain industry.”
Under the MoU, ADGM’s Registration Authority (RA) will collaborate with Hacken on developing security standards and on-chain monitoring solutions “in relation to ADGM’s DLT Foundations framework, positioning both organisations at the forefront of fostering a secure blockchain ecosystem.”
This collaboration not only highlights ADGM’s role in “innovating regulatory frameworks but also Hacken’s commitment to advancing blockchain security globally.”
Highlights of the MoU include collaboration in the following areas:
- Security and Compliance Standards Development
- Advanced DLT Foundation Monitoring Arrangements
- Development of AI-Enhanced Monitoring Solutions
Hamad Sayah Al Mazrouei, CEO of ADGM RA said:
“At ADGM, we are committed to setting unprecedented global standards in regulatory compliance and security by harnessing the transformative power of blockchain and AI. Our partnership with Hacken exemplifies our innovative drive and dedication to excellence. By integrating AI-driven technologies, we are pioneering a model of regulatory excellence that enhances transparency, security, and trust across the digital landscape. This represents the next frontier in SupTech, and take pride in spearheading this evolution.”
Dyma Budorin, Co-Founder and CEO of Hacken emphasized the significance of the collaboration stating:
“We are incredibly grateful for the opportunity to support ADGM in this pioneering venture. Our experience in working with public sectors, such as our audits for the European Blockchain Services Infrastructure and our cooperation with government entities, provides a solid foundation for this partnership. Together, we are setting a new global standard for blockchain security and compliance.”
