Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital, has entered into a Memorandum of Understanding (MoU) with Hacken, a leading global provider of blockchain security auditing services. The partnership aims to jointly establish new benchmarks for blockchain security and compliance, bringing together the expertise of a regulatory body and a security auditor. The MoU seeks to create a world-leading standard for security assessments in the blockchain industry.
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As part of the MoU, ADGM’s Registration Authority (RA) will collaborate with Hacken on the development of security standards and on-chain monitoring solutions within ADGM’s DLT Foundations framework. This collaboration positions both organizations at the forefront of building a secure blockchain ecosystem. It underscores ADGM’s commitment to innovative regulatory frameworks and Hacken’s dedication to advancing blockchain security on a global scale.
Key areas
The key areas of collaboration outlined in the MoU include:
- Development of security and compliance standards.
- Implementation of advanced monitoring arrangements for DLT Foundations.
- Creation of AI-enhanced monitoring solutions.
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.”
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