A new blockchain, the cryptocurrency-focused association has been established within Abu Dhabi’s free economic zone, with the goal of advancing the development of blockchain and cryptocurrency ecosystems throughout the Middle East, North Africa, and Asia, as reported by Cointelegraph.
Cointelegraph further noted that the Middle East, Africa, and Asia Crypto and Blockchain Association (MEAACBA) was officially launched on November 8 in the Abu Dhabi Global Market (ADGM), a free economic zone in the city’s centre governed by its own set of civil and commercial laws. The zone was created to support the growth of fintech companies in the UAE (UAE).
According to its website, the nonprofit organisation will aim to facilitate regulatory solutions, create commercial opportunities, and invest in education to support industry growth.
The association will be led by Jehanzeb Awan, the founder of an international risk and compliance consulting firm based in Dubai. Other members of the association include Binance’s Middle East and North Africa (MENA) regional head, Richard Teng, Crypto.com’s Middle East and Africa general manager, Stuart Isted, and Ola Doudin, the CEO of BitOasis, a cryptocurrency exchange in the region, Cointelegraph further noted.
(With insights from Cointelegraph)
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