Chainlink Labs Expands to Abu Dhabi
- Chainlink Labs establishes a new office and regulatory compliance in Abu Dhabi.
- The expansion is driven by the increasing demand in MENA’s financial sector.
Chainlink Labs is set to broaden its presence in the Middle East and North Africa region with the establishment of a new office and entity in Abu Dhabi.
The platform, known for its development of the oracle and interoperability project Chainlink (LINK), will undergo this expansion initiative under the regulatory oversight of the Abu Dhabi Global Markets (ADGM).
As per a press release on Dec. 10, Chainlink Labs aims to form strategic partnerships to achieve this objective.
MENA Presence Crucial for Chainlink Labs
Chainlink is specifically targeting collaborations with financial market infrastructure providers and institutions.
Hamad Sayah Al Mazrouei, the Registration Authority CEO at ADGM, stated, “We welcome Chainlink Labs, one of the primary contributing developers of Chainlink—the standard for onchain finance—on its recent expansion with a dedicated presence within ADGM.”
He further added, “Chainlink Labs’ increased presence in the region underscores the growing demand for blockchain-based onchain finance solutions and tokenized assets.”
Expanding Technology and Partnerships
Chainlink’s technology is powering numerous platforms and protocols worldwide, enabling over $17 trillion worth of value in the blockchain economy.
Key partnerships with global entities like Swift, Fidelity International, and ANZ Bank have further solidified Chainlink’s position in the market.
Additionally, the platform has integrated with various decentralized finance protocols such as Aave, GMX, and Lido for cross-chain transfers, banking services, and asset management.
⬡ Chainlink Adoption Update ⬡
This week, there were 7 integrations of the #Chainlink standard across 4 services and 7 different chains: @avax, @base, @ethereum, @0xMantle, @0xPolygon, @0xSonicLabs, and SXT Chain.
New integrations include @tradeon21x, @BackedFi,… pic.twitter.com/Ys1aHJhp4B
— Chainlink (@chainlink) December 9, 2024
Chainlink’s presence in MENA has gained momentum, especially in the tokenized real-world assets market.
Angie Walker, the global head of banking and capital markets at Chainlink Labs, expressed excitement about expanding the global reach of the Chainlink standard in Abu Dhabi.
She mentioned, “The MENA region has become a global destination for innovators and a hub for the adoption of onchain finance. We are thrilled to establish a presence in Abu Dhabi and collaborate with key financial market infrastructures and institutions to bring tokenized assets to production.”
