ADGM Joins Forces With Hacken To Set New Blockchain Security Benchmarks

Abu Dhabi Global Market (ADGM) has entered into a strategic partnership with Hacken, a leading entity in blockchain security auditing, by signing a Memorandum of Understanding (MoU). This collaboration aims to establish new benchmarks in blockchain security and compliance, marking a significant step towards creating a safer blockchain ecosystem. The MoU outlines a plan for ADGM’s Registration Authority (RA) and Hacken to work together on developing security standards and on-chain monitoring solutions that align with ADGM’s Distributed Ledger Technology (DLT) Foundations framework.

This partnership underscores ADGM's innovative approach to regulatory frameworks and Hacken's dedication to enhancing blockchain security worldwide. The collaboration will focus on several key areas, including the development of security and compliance standards, advanced DLT foundation monitoring arrangements, and the creation of AI-enhanced monitoring solutions. These initiatives are set to position both organizations as leaders in promoting a secure blockchain environment.

Hamad Sayah Al Mazrouei, CEO of ADGM RA, highlighted the importance of this partnership in setting new global standards for regulatory compliance and security. "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," Al Mazrouei stated. This move is seen as a significant advancement in Supervisory Technology (SupTech), with ADGM at the forefront of this evolution.

Dyma Budorin, Co-Founder and CEO of Hacken, expressed gratitude for the opportunity to collaborate with ADGM. Budorin emphasized the importance of their experience in working with public sectors, including audits for the European Blockchain Services Infrastructure and cooperation with government entities. "Together, we are setting a new global standard for blockchain security and compliance," Budorin remarked, highlighting the potential impact of this partnership on the global stage.

The collaboration between ADGM and Hacken represents a critical step forward in enhancing the security and compliance framework within the blockchain industry. By leveraging AI technology and developing comprehensive monitoring solutions, both organizations aim to foster a more secure and transparent digital landscape. This partnership not only showcases ADGM's role in regulatory innovation but also Hacken's commitment to advancing global blockchain security standards.

With inputs from WAM