- Chainlink Labs will establish a new office and regulatory compliance in Abu Dhabi.
- The project’s expansion comes amid growing demand across MENA’s financial sector.
Chainlink Labs is looking to expand further across the Middle East and North Africa region, with a new office and entity set up in Abu Dhabi.
The platform, which helps develop the oracle and interoperability project Chainlink (LINK), will pursue the expansion effort under regulatory oversight of the Abu Dhabi Global Markets (ADGM).
According to a press release on Dec. 10, Chainlink Labs will target strategic partnerships to bring this mission to fruition.
MENA presence key for Chainlink Labs
In particular, Chainlink targets collaborations across financial market infrastructure providers and institutions.
“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,” Hamad Sayah Al Mazrouei, Registration Authority CEO at ADGM said. “Chainlink Labs’ increased presence in the region underscores the growing demand for blockchain-based onchain finance solutions and tokenized assets, with Abu Dhabi, the ‘Capital of Capital’, providing the ideal environment for further expanding the global footprint of the Chainlink standard.”
Expansion plans for Chainlink Labs comes as Chainlink’s technology powers even more platforms and protocols across global markets.
Over the past few years, Chainlink has enabled more than $17 trillion worth of value in the blockchain economy. It has key partnerships with global players, including Swift, Fidelity International and ANZ Bank. Chainlink also has key integrations across decentralized finance, with DeFi protocols such as Aave, GMX, and Lido tapping into Chainlink for cross-chain transfers, banking 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
Its presence in MENA has increased traction with the growing tokenized real-world assets market.
Angie Walker, global head of banking and capital markets at Chainlink Labs, commented:
“The MENA region has become a global destination for innovators from around the world and a hub for the adoption of onchain finance. We are excited to expand the global footprint of the Chainlink standard by establishing a presence in Abu Dhabi and working closely with key financial market infrastructures and financial institutions in the region to bring tokenized assets to production.”
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