Stacks DLT Bitcoin Foundation sets up in UAE ADGM

The Stacks Asia Foundation, has established a presence in ADGM UAE. becoming a regulated Bitcoin-based foundation operating within the Abu Dhabi Global Market (ADGM) as the Stacks Asia DLT Foundation.

By being present in ADGM, Stacks DLT Foundation will utilize the support offered by ADGM, which supports flexible governance through token voting and smart contracts.

According to the press release, this is important for Stacks as it expands Bitcoin network without changing its core.

Kyle Ellicott, Executive Director at the Stacks Asia Foundation, explained that they chose ADGM because of its commitment to fostering innovation in the blockchain space.

He states, “This move also builds on Stacks’ existing SEC regulatory approvals in the U.S., adding another layer of trust and credibility to the ecosystem’s expanding footprint.”

Stacks Foundation in ADGM will bridge Asia with MENA

Using ADGM as a hub, Stacks will bridge its presence in Hong Kong with the UAE. The Stacks Foundation will work with UAE local partners to launch educational programs for Bitcoin developers and users, support policy initiatives that advance Bitcoin DeFi, yields, and digital asset regulations, as well as foster collaboration between institutions, builders, and innovators.

With the launch of sBTC earlier this year, users can now access a 1:1 Bitcoin-backed, programmable asset for lending, trading, and more, without compromising Bitcoin’s security. The Stacks Asia Foundation will build on this by empowering builders, educating institutions, and creating pathways for Bitcoin-powered DeFi in both Asia and the Middle East.

As Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, put it, “The Stacks Asia DLT Foundation’s registration in ADGM reinforces the UAE’s growing role in the digital asset space, paving the way for significant advancements in Bitcoin Layer-2 solutions and wider blockchain adoption across the Middle East.”

The DLT Foundation community has been growing in ADGM

In 2024, the TON Blockchain registered its DLT Foundation at ADGM in the UAE under ADGM’s DLT Foundations framework, as well as Japanese Bitgrit, and the Kaia DLT Foundation, which was formed through the merger of the Klaytn and Finschia blockchains initially developed by Kakao and LINE, respectively.

IOTA was also one of the first DLT Foundations to be registered in ADGM.

In November 2023, the Abu Dhabi Global Market (ADGM) introduced the Distributed Ledger Technology (DLT) Foundations Regulations 2023, marking the world’s first legal framework for blockchain within its jurisdiction. They have been actively broadening their regulatory framework relating to digital assets and DLT, with the objective of establishing a comprehensive legal and regulatory structure for such businesses.