SVB Ventures | Newsletter No. 19
✔ Trump signed an executive order creating a Strategic Bitcoin Reserve
President Donald Trump signed an executive order to establish a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile," both capitalized with cryptocurrency forfeited in government criminal cases. The Bitcoin reserve, described as a "digital Fort Knox," will use Bitcoin owned by the federal government, with no plans to sell any of it, serving as a store of value. The broader stockpile will include other cryptocurrencies obtained through forfeiture, with Treasury and Commerce developing budget-neutral strategies for acquiring more Bitcoin. The order also mandates a full accounting of the government's digital asset holdings, requiring agencies to provide details to the Treasury Secretary and a crypto working group established by Trump. This initiative aims to position the U.S. as a leader in government digital asset strategy, though it has been noted that the government does not currently hold any XRP, Solana, or Cardano among its crypto assets, which are predominantly Bitcoin and Ethereum.
✔ EU official warns of Trump's crypto stance impacting monetary autonomy
European financial officials have expressed concern that the Trump administration's favorable stance toward cryptocurrencies, particularly dollar-denominated stablecoins, could threaten Europe's monetary sovereignty and financial stability. Pierre Gramegna, managing director of the European Stability Mechanism (ESM), emphasized at a recent Eurogroup press conference that the U.S. administration's openness to crypto strengthens the urgency to develop a digital euro to safeguard Europe's strategic autonomy. Gramegna and other European leaders see a central bank digital currency (CBDC) as crucial for maintaining Europe's financial independence and staying competitive globally, especially in response to the expanding role of dollar-based stablecoins, though the ECB continues to reject adding Bitcoin to its reserves.
✔ Russian oil firms use Bitcoin, Ethereum, USDT for cross-border payments with China and India
Amid sanctions, Russian firms, notably in oil, are reportedly using cryptocurrencies like Bitcoin and USDT for trade with China and India, with some transactions reaching tens of millions monthly, says Reuters. Intermediaries facilitate these deals, converting local currencies to crypto before transferring to Russia. This practice, potentially continuing post-sanctions due to efficiency, coincides with Russia considering legalized crypto investments for wealthy individuals, contrasting sharply with mainland China's crypto ban.
✔ Trump announces 25% tariffs on all cars not made in the US
President Donald Trump signed a proclamation imposing 25% tariffs on all foreign-made cars and light trucks not manufactured in the U.S., effective April 2, with collection starting April 3, expecting to generate over $100 billion in annual revenue, while exempting U.S.-built vehicles and offering a one-month reprieve to the “Big Three” automakers for USMCA-compliant vehicles from Mexico and Canada. European Commission President Ursula von der Leyen criticized the tariffs, warning of negative impacts on businesses and consumers, as auto stocks like General Motors, Stellantis, and Ford dropped roughly 5% in after-hours trading. Trump’s broader “reciprocal tariff” plan, set to begin April 2, aims to counter foreign import duties and trade policies, though recent statements suggest potential flexibility and leniency, with countries able to pre-negotiate to avoid the new tariffs.
✔ Brazil’s Méliuz says board approves a new treasury strategy, allowing up to 10% cash allocation in Bitcoin
Brazilian fintech unicorn Meliuz has begun purchasing Bitcoin as part of its treasury management, with plans to accumulate up to 10% of its cash in BTC. The company has already acquired 45.72 BTC for approximately $4.1 million. Meliuz established a Bitcoin Strategic Committee to oversee the strategy and analyze further expansion, potentially adopting Bitcoin as its main strategic asset. This move follows the addition of Bitcoin advocate Guilherme Bandeira to the board. Meliuz acknowledges risks like volatility and regulatory challenges, which will be monitored by the committee. The move comes as Brazil's central bank considers banning stablecoin transfers to self-custodial wallets and Brazil was the second-largest market globally in terms of stablecoin transactions in 2024.
✔ Senate, House lawmakers reintroduce Bitcoin Act legislation to accumulate 1 million BTC
Senator Cynthia Lummis introduced the BITCOIN Act, legislation aimed at establishing a federal Bitcoin reserve by directing the U.S. Treasury to acquire and securely store up to one million BTC (approximately $80 billion) over five years, aligning with a recent executive order from President Trump. The bill, co-sponsored by several Republican senators and accompanied by a House version from Congressman Nick Begich, includes strict management rules limiting reserve sales to 10% every two years. Although the Trump administration prefers indefinite holding rather than scheduled acquisitions, the bill represents a significant potential shift in U.S. monetary policy, formally recognizing Bitcoin as a reserve asset and further integrating digital assets into the national financial strategy.
✔ Utah’s retreat from crypto reserves.
Utah's State Senate removed a provision for a state-backed Bitcoin reserve from its recently approved Blockchain and Digital Innovation Amendments bill (HB230), which outlines guidelines for crypto use in the state. Despite eliminating the Bitcoin investment clause, the bill remains pro-crypto, protecting residents' rights to self-custody digital assets, mine Bitcoin, run nodes, and participate in staking. Pending Governor Spencer Cox’s signature, the bill would become law on May 7, 2025, aligning with broader national trends, such as President Trump's recent executive order establishing a National Strategic Bitcoin Reserve and Digital Asset Stockpile.
✔ Texas proposes a $250M Bitcoin reserve bill
Texas has introduced its second crypto reserve bill, HB 4258, which proposes allocating up to $250 million from the state’s economic stabilization fund for Bitcoin and other digital assets while also allowing municipalities and counties to invest up to $10 million each. This initiative, effective September 1, 2025 if approved, follows the earlier bipartisan-supported SB 778, further reflecting Texas’ commitment to integrating crypto into its financial framework, a move backed by leaders like Lieutenant Governor Dan Patrick as part of a broader trend seen in 21 states nationwide.
✔ US states accelerate cryptocurrency mining and Bitcoin reserves bills in March 2025
March 2025 is witnessing a major shift in how U.S. states approach cryptocurrency, with many actively introducing and passing legislative initiatives to promote crypto adoption. Kentucky has passed a law protecting residents' rights to self-custody Bitcoin and encouraging crypto mining, while North Carolina has proposed investing 5–10% of public funds into digital assets as a strategic reserve. Arizona approved two bills allowing state and pension funds to invest in Bitcoin and other digital assets, and Oklahoma passed a bill enabling investments from public funds into Bitcoin and stablecoins. So far, 23 states have introduced Bitcoin reserve bills, with the potential to drive $23 billion in BTC purchases—signaling a growing trend of treating crypto as a core part of public financial strategy. This movement aligns with support from the Trump administration, which established the Federal Bitcoin Strategic Reserve on March 7.
🔸 Ethereum
✔ The board of Nasdaq-listed BioNexus Gene Lab has approved Ethereum as its primary treasury asset
On March 5, Malaysia-based BioNexus Gene Lab announced it will adopt an Ethereum-exclusive treasury strategy, citing Ethereum’s broader utility, staking yield, and dominance in DeFi over Bitcoin. The firm highlighted Ethereum's inclusion in the US Crypto Strategic Reserve, its role in stablecoin settlement, and institutional adoption as key drivers behind the move. Despite a modest $6 million market cap and negative net income as of September 2024, BioNexus aims to be the first Nasdaq-listed company to prioritize ETH in its treasury. The company also cited Wyoming's blockchain-friendly laws, including the Wyoming Stable Token Act, as supportive of its strategy. Its whitepaper emphasized Ethereum’s staking returns, financial infrastructure, smart contract functionality, and expected upgrades—like the April Pectra update—as aligning with the future of blockchain-integrated corporate finance.
🔸 ETF
✔ Bitwise files for a spot Dogecoin ETF with NYSE
On March 3, 2025, Bitwise filed for a spot Dogecoin ($DOGE) ETF with the New York Stock Exchange (NYSE), as reported by Crypto Rover on Twitter (Crypto Rover, 2025). This filing marks a significant development in the cryptocurrency market, particularly for Dogecoin, which has historically been viewed more as a meme token rather than a serious investment vehicle. Bitwise also has filed an S-1 registration statement for a spot Aptos ETF on March 5, naming Coinbase Custody as the proposed custodian but without including staking features, fees, or ticker details, marking its latest expansion beyond Bitcoin and Ether ETFs alongside recent filings for Solana, XRP, and Dogecoin ETFs.
✔ The SEC has acknowledged filings to permit staking for both Fidelity and Franklin spot $ETH ETF
On March 13, 2025, the SEC's acknowledgment of filings for spot Ethereum ETFs with staking capabilities from Fidelity and Franklin spurred a significant rally in Ethereum’s price, soaring 7.5% to $4,120 by 10:15 AM EST, alongside a 230% surge in trading volume and a 150% increase in staking deposits within three hours, signaling a bullish outlook for ETH and the broader crypto market; this development is anticipated to draw substantial institutional investment, potentially pushing ETH's price upward and fostering its short-term outperformance against Bitcoin, fueled by a shift in market sentiment towards greed and reinforced by bullish technical indicators like a break above the 50-day moving average, while also boosting AI tokens such as AGIX and FET due to the overall positive market sentiment and anticipated increased liquidity.
✔ Volatility Shares Launches First Ever Solana ETFs
Volatility Shares launched the first US Solana futures ETFs, SOLZ and SOLT, on March 20, offering both standard and leveraged exposure to Solana futures, following a trend seen with Bitcoin and Ethereum futures ETFs, though analysts anticipate less demand compared to spot Bitcoin ETFs; this launch is attributed to renewed crypto optimism under the Trump administration and is viewed as a potential step towards spot Solana ETF approval, despite initial Solana futures trading volumes on the CME being lower than those of Bitcoin and Ethereum when normalized for market cap.
🔸 Crypto Policies & Regulations
✔ SEC Crypto Task Force to Host Four More Roundtables
The SEC’s Crypto Task Force, launched in January 2025 under Acting Chair Mark Uyeda, announced four upcoming public roundtables (April–June 2025) to address crypto regulation, covering topics like crypto trading (April 11), custody (April 25), asset tokenization (May 12), and DeFi (June 6). The events, held at SEC headquarters in Washington, D.C., and livestreamed, will feature expert discussions to guide the agency in creating clear regulatory frameworks, registration pathways, and enforcement strategies. Led by Commissioner Hester Peirce, the task force aims to replace the SEC’s past "regulation by enforcement" approach with collaborative policymaking, inviting industry input via email (crypto@sec.gov) for panelist consideration. Recordings and agendas will be posted on the SEC’s Crypto Task Force webpage, signaling a shift toward transparency and engagement with the crypto industry.
✔ Senate votes to repeal controversial IRS rule, Trump expected to sign
President Trump is poised to sign a bipartisan resolution repealing a Biden-era IRS rule on DeFi platforms, which would have mandated transaction data collection and tax form issuance, sparking concerns over stifling crypto innovation. The Senate's 70-28 vote to overturn the rule, following the House's similar action, reflects a rare consensus aiming to foster digital asset growth. Crypto advocates, including the Blockchain Association, supported the repeal, labeling the rule 'unworkable' and a threat to U.S. crypto dominance. Critics, like Rep. Lloyd Doggett, warn this move could enable tax evasion and illicit activities by reducing IRS scrutiny. As the resolution awaits Trump's signature, the debate over balancing crypto innovation with tax compliance intensifies.
✔ Congress introduces revised stablecoin legislation with compliance measures and developer protection
After a three-year wait, the US Congress has introduced the STABLE Act 2025, a long-awaited legal framework for stablecoins, mandating that only licensed entities can issue them, with strict 1:1 backing requirements, and prohibiting yield-bearing and algorithmic stablecoins. The act imposes hefty daily fines for non-compliance and allows states to set their own rules, provided they align with federal standards. Despite its comprehensive approach, critics argue the bill is outdated, especially its ban on yield features, as other nations like the EU, Singapore, and Hong Kong have already advanced more flexible regulations. The STABLE Act's path to enactment is uncertain, with significant hurdles ahead, and comes at a time when JPMorgan predicts a surge in the market share of yield-bearing stablecoins.
✔ Singapore and Vietnam Sign Deal to Boost Digital Asset Regulation
The Monetary Authority of Singapore (MAS) and Vietnam's State Securities Commission (SSC) recently signed a Letter of Intent (LOI) to enhance bilateral cooperation in regulating capital markets and digital assets. Signed during Vietnamese General Secretary To Lam’s official visit to Singapore, with Singapore Prime Minister Lawrence Wong in attendance, the agreement focuses on sharing regulatory expertise, supervisory practices, and anti-money laundering frameworks. This partnership supports Vietnam's efforts to strengthen its digital asset regulatory landscape and aligns with the recent elevation of Singapore-Vietnam relations to a Comprehensive Strategic Partnership, underscoring both countries' commitment to promoting secure, transparent, and stable financial markets amid rapid developments in digital finance.
✔ Vietnam is about to have a pilot cryptocurrency exchange
Vietnam is steadily enhancing its legal framework for digital assets and cryptocurrencies to ensure transparency and investor protection. In a March 5 press conference, Deputy Finance Minister Nguyễn Đức Chi acknowledged the global and domestic challenges posed by digital assets and announced that the government is urgently developing appropriate legal guidelines. As part of these efforts, the Ministry of Finance plans to propose a pilot cryptocurrency exchange for both institutional and individual investors this month—operated by state-licensed entities—to regulate digital asset transactions, mitigate risks, and safeguard investor rights. Additionally, the ministry is working with other agencies to draft regulations on digital asset issuance, which could facilitate capital raising for businesses, bolster the nation’s digital economy, and address concerns such as money laundering and financial fraud.
✔ The Ministry of Finance proposes co-managing digital asset exchanges with the Ministry of Public Security and the State Bank, stating that digital asset transactions will be taxed
The Ministry of Finance of Vietnam is proposing an inter-agency coordination mechanism with the Ministry of Public Security and the State Bank to pilot the supervision of cryptocurrency exchanges. Under this proposal, the Ministry of Finance will be responsible for the legal framework, the State Bank will monitor monetary impacts, and the Ministry of Public Security will focus on anti-money laundering measures. This initiative is included in a draft resolution submitted to the Government on March 20, aiming to mitigate risks, protect investors, and establish a sustainable development foundation for the blockchain market. Additionally, digital asset transactions will be subject to Value-Added Tax (VAT), corporate income tax, and personal income tax under current regulations, although the classification of digital assets is still being finalized.
✔ Japan proposes crypto tax cut to boost investor appeal
Japan's ruling Liberal Democratic Party (LDP), through a proposal shared by lawmaker Akihisa Shiozaki, is seeking to significantly reform cryptocurrency regulations by reclassifying digital assets as a distinct category under the Financial Instruments and Exchange Act and reducing the tax rate from a high of 55% to 20%, mirroring the treatment of stocks. This initiative, open for public feedback, aims to stimulate market growth, protect investors, potentially enable crypto ETFs, and is viewed optimistically by the crypto community as a move that could boost adoption and position Japan as a leader in the digital asset space.
✔ SBI VC Trade has become the first company in Japan to obtain a stablecoin license, enabling it to offer USDC trading
SBI's Japanese subsidiary, SBI VC Trade, is set to support Circle’s USDC stablecoin following relaxed local regulations. On March 4, SBI VC Trade completed the first registration for stablecoin transactions, becoming one of Japan’s first licensed USDC trading platforms. A USDC trading trial for select users will start on March 12, with a full rollout expected soon. CEO Tomohiko Kondo noted that SBI VC Trade is the first in Japan to secure a "stablecoin license," following Japan's lifted ban on foreign stablecoins and support from regulators, including FSA Commissioner Hideki Ito, who highlighted stablecoins' role in advancing remittance and settlement technologies.
✔ Russia considers crypto trading trial for elite investors
Russia is considering launching a domestic cryptocurrency exchange on a trial basis, with strict regulations for qualified investors. The Ministry of Finance and the Central Bank of Russia are discussing the project, which aims to create a safe and controlled environment for cryptocurrency trading. Only "super-professional" investors, including financial institutions and individuals with assets over 24 million rubles (approximately $250,000), will be allowed to participate. The project is still in its early stages and will be evaluated based on its feasibility and risk control, including investor protection and national financial security. If successful, this could be the first step towards a regulated and partially legalized cryptocurrency market in Russia, which has been accelerating its efforts to adopt cryptocurrencies since 2022 to circumvent Western sanctions related to the Ukraine conflict.
✔ Bank of Russia to allow limited crypto buying for investors
Russia's central bank has proposed a limited, experimental crypto trading framework for investors holding over $1.1 million in assets, while maintaining a ban on retail crypto payments. The proposals would legalize crypto investments for these qualified investors and include penalties for violations. While against domestic crypto payments, the bank sees potential for cryptocurrencies in foreign trade, aligning with ongoing experiments. This policy could also spur Russian firms to adopt crypto investment strategies.
✔ Kyrgyzstan is taking a regulated, gold-backed approach to crypto, embedding blockchain into finance instead of forcing Bitcoin as legal tender
Kyrgyzstan is taking a strategic approach to cryptocurrency adoption, focusing on economic security, institutional trust, and full-scale blockchain integration into its national economy. Unlike El Salvador's faltering Bitcoin experiment, Kyrgyzstan is embedding blockchain into its banking system, digital payments, and financial regulations, with a government-backed gold-collateralized USD stablecoin, the Gold Dollar (USDKG). This stablecoin is fully backed by government-held gold reserves, ensuring financial stability and transparency, with regular third-party audits and a publicly accessible proof-of-reserves system. By strengthening blockchain infrastructure and integrating USDKG into local and international markets, Kyrgyzstan is taking a responsible approach to crypto adoption, balancing innovation with stability, and potentially shaping the future of government-backed stablecoins worldwide.
✔ Thailand’s SEC approves Tether’s $USDT as an official cryptocurrency, trading and payment use starting March 16, 2025
Thailand’s Securities and Exchange Commission (SEC) has approved Tether’s USDT and Circle’s USDC for trading on regulated exchanges starting March 16, expanding the list of approved cryptocurrencies—which previously included Bitcoin, Ether, XRP, Stellar, and certain Bank of Thailand tokens—and marking a significant move toward broader crypto adoption in the country; following a February public consultation, the decision aligns with global trends favoring stablecoins for faster and cheaper cross-border payments in emerging markets, comes as Tether ensures local regulatory compliance with its CEO emphasizing improved services for Thai users, and is part of Thailand’s broader effort to enhance its crypto regulatory framework, including the launch of a regulatory sandbox in August 2024.
🔸 Other News
✔ Binance to delist 9 stablecoins including USDT for Europe in MiCA win for Circle’s USDC
Binance will delist nine stablecoins, including Tether (USDT) and others, from its European Economic Area (EEA) spot market by March 31 to comply with the EU's MiCA framework. Trading of these assets will cease after the deadline, although deposits, withdrawals, and conversions will remain available through Binance Convert. From March 27, Binance will modify margin trading rules, delisting non-compliant pairs and converting balances to Circle’s USD Coin (USDC), urging traders to manage positions to avoid forced liquidations. The exchange will also offer fee-free trading for specific pairs and rewards for users switching to USDC or EURI, while encouraging updates of Binance Earn and Loan holdings to MiCA-compliant stablecoins like USDC. Tether has criticized the rapid MiCA implementation, warning of potential market destabilization and unintended consequences.
✔ Abu Dhabi’s MGX invests $2B in Binance, marking largest institutional stablecoin-backed crypto deal
Binance secured a $2 billion investment from Abu Dhabi’s MGX—its first institutional funding—in a stablecoin-backed deal, signaling growing institutional crypto interest. MGX, now a minority stakeholder, aims to merge AI and blockchain with finance, while Binance will use the funds to bolster compliance and security. The exchange, with 260M users and $100T+ in trading volume, benefits from UAE’s crypto-friendly regulations, holding licenses in Dubai and Abu Dhabi. The news briefly pushed BNB up 3% to $574, reflecting optimism amid broader market volatility. The deal aligns with surging crypto VC activity, with 2025 investments potentially exceeding $18B as regulatory clarity improves.
✔ Coinbase plans US market leap with tokenized securities initiative
Coinbase CEO Brian Armstrong, speaking at the Morgan Stanley Technology, Media, and Telecom Conference, expressed optimism about the potential for tokenized securities under the Trump administration's shifting regulatory landscape, noting that renewed dialogue with the SEC's task force could enable the introduction of security tokens and international products to the U.S. market, while highlighting that Coinbase's revenue from trading, stablecoins, and staking reached $700 million in 2024 and emphasizing the company's commitment to providing compliant pathways for tokenizing financial assets.
✔ 83% of institutions plan to increase their crypto allocations in 2025, according to Coinbase’s latest institutional investor survey
A recent report by Coinbase and EY-Parthenon reveals a significant surge in institutional bullishness towards cryptocurrency, with 83% of firms planning to increase their crypto allocations in 2025, driven by the view that digital assets offer the best risk-adjusted returns over the next three years; nearly three-quarters of institutions already hold altcoins beyond Bitcoin and Ether, with XRP and Solana being the most popular, and a large majority aim to allocate 5% or more of their portfolios to crypto, a trend potentially amplified by anticipated approvals of altcoin ETFs and the increasing adoption of stablecoins for various use cases beyond transactions, alongside a projected rise in DeFi platform usage for activities like derivatives, staking, and lending.
✔ Toncoin surges as Pavel Durov leaves France after months
Toncoin (TON) surged 6% after Telegram founder Pavel Durov was released from France, where he had been detained since August 2024 on charges related to Telegram allegedly facilitating illegal activities. TON had plummeted 35% after his arrest but later peaked at $7.20 in December amid a post-Trump election rally before crashing 67% to $2.36 by March 2025. Durov’s departure to Dubai on March 13—either temporarily or permanently—was seen as a win for free speech, though legal proceedings may continue. The Open Network’s native token remains popular among Telegram users despite its volatile price swings tied to regulatory and political developments.
✔ The stablecoin market cap has surpassed $220 billion
Amid recent market volatility, crypto traders are parking capital in stablecoins rather than exiting the ecosystem entirely, pushing the total stablecoin market cap past $220 billion - a bullish signal suggesting liquidity is poised to re-enter risk assets. While this reflects short-term caution, the growing stablecoin reserves (including Ripple's new RLUSD which has reached $160M in circulation) represent dry powder that could fuel the next rally when sentiment shifts, as these funds can quickly convert back into Bitcoin and altcoins through exchanges. The stablecoin market's expansion to $236.7 billion across all types (fiat-backed, crypto-backed, etc.) indicates investors are watching and waiting rather than abandoning crypto, though this liquidity buildup may temporarily delay inflows into volatile assets until a clear bullish catalyst emerges.
✔ VanEck wants to launch a Bitcoin fund in Vietnam
On March 17, 2025, VanEck CEO Jan van Eck met with Vietnamese officials to discuss digital asset development, advocating for a cautious regulatory approach and suggesting a Bitcoin investment fund with SSI Securities. Leveraging VanEck's ETF expertise, the discussions aimed to support Vietnam as it develops its digital asset legal framework, including pilot crypto exchanges. The meetings underscored growing U.S.-Vietnam collaboration in blockchain, with VanEck highlighting positive U.S. regulatory shifts relevant to Vietnam's policy. Vietnam is expediting its digital asset legislation, with draft regulations expected in March allowing state-approved crypto exchanges and domestic digital asset issuance for fundraising.
✔ Trump family crypto firm launches stablecoin, Senators press regulators on Trump’s WLFI stablecoin
World Liberty Financial, a cryptocurrency venture backed by President Trump and his family, has launched a U.S. dollar-pegged stablecoin called USD1, aimed at both retail and institutional investors and backed by BitGo custody. Since its September 2024 launch, the company has raised $550 million through token sales, with the Trump family controlling 60% of its equity and eligible for 75% of revenues. Trump’s administration has signaled strong support for crypto, including hosting industry leaders, signing an executive order to create a bitcoin reserve, and partnering with Crypto. com for ETFs. However, five Democratic senators, led by Elizabeth Warren, have raised concerns about conflicts of interest and risks to financial system integrity, especially as Congress debates stablecoin regulation under the GENIUS Act and Trump moves to centralize regulatory coordination under the White House
✔ UAE expects digital dirham rollout in Q4 2025, and Sonic Labs ditch algorithmic USD stablecoin for UAE dirham alternative
The United Arab Emirates is set to launch its digital dirham central bank digital currency by the fourth quarter of 2025, aiming to enhance financial stability and combat financial crime, according to the Central Bank of the UAE Governor. This blockchain-based currency, which will be accepted in all payment channels alongside its physical counterpart, is expected to foster innovation and reduce costs. Meanwhile, the UAE has been proactive in regulating stablecoins, with Tether announcing a dirham-backed stablecoin in collaboration with local firms, following the Central Bank's licensing framework approval. Despite initial plans by Sonic Labs to introduce a USD-pegged algorithmic stablecoin, the project pivoted to a dirham-denominated alternative, reflecting the UAE's evolving digital currency landscape and the global shift towards more stable, regulated digital assets.
✔ Chainlink has signed an MoU with Abu Dhabi’s ADGM to develop compliant tokenization frameworks and boost blockchain adoption in regulated financial markets across the UAE
Abu Dhabi Global Market (ADGM), a financial free zone managing over $635 billion in assets, signed an MoU with Chainlink to integrate blockchain data and interoperability tools, aiming to bridge traditional finance with emerging technologies like AI and blockchain. Established in 2015, ADGM has attracted major firms including BlackRock and Morgan Stanley, hosting 134 asset managers with 166 funds by end of 2024. The UAE’s crypto adoption is accelerating, ranking third globally according to Henley’s 2024 index, with a 41% rise in crypto app downloads. Abu Dhabi recently recognized Tether’s USDT as an accepted virtual asset, and Binance secured a $2 billion investment from local firm MGX, while Dubai approved USDC and EURC as its first regulated stablecoins, highlighting the region’s growing embrace of digital assets.
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