Abu Dhabi Global Market (ADGM) and Hacken, a global blockchain security auditing firm, have signed a Memorandum of Understanding (MoU) to “collaboratively set new benchmarks for blockchain security and compliance”.
This strategic partnership reflected “a unique synergy between a regulatory body and a security auditor aimed at establishing a world-leading security assessment standard in the blockchain industry”, ADGM said in a statement on 24 April.
Under the MoU, ADGM’s Registration Authority (RA) will collaborate with Hacken on developing security standards and on-chain monitoring solutions in relation to ADGM’s DLT Foundations framework.
Key elements of the MoU include collaboration in areas of security and compliance standards development, advanced DLT foundation monitoring arrangements and development of AI-enhanced monitoring solutions.
Hamad Sayah Al Mazrouei, CEO of ADGM RA said: “At ADGM, we are committed to setting unprecedented global standards in regulatory compliance and security by harnessing the transformative power of blockchain and AI. 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. This represents the next frontier in SupTech, and take pride in spearheading this evolution.”
Dyma Budorin, co-founder and CEO of Hacken said: “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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