Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as IFC governs the Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and success within an international regulatory framework based on Common Law.
Industry: Financial Services
Company size: 201-500 employees
Type: Government Agency
Specialties: Financial Services, FinTech, Law Firms, Asset Management, Capital Markets, Banking, Wealth Management, Aviation Finance, Investment Funds, Insurance, Start up Licence, and Commercial Licence (source: LinkedIn)
On May 11th, ADGM twitter account shared a news article covering Dilip Rao’s Ripple Drop interview. Mr. Rao spoke about central banks explaining that “Bahrain and Abu Dhabi are front runners in developing crypto-regulations”.
The video also mentioned that ADGM was on stage in the latest Ripple regionals in Dubai.
ADGM not only shared the news but also added on a seperate tweet that:
“ADGlobalMarket will continue to work with industry partners & leaders like Ripple to enhance its financial ecosystem & platform to support innovation investment & digitalasset market.“
This tweet comes only a few months after Chris Larsen and Navin Gupta visisted ADGM.
At the same time, its important to remember that Richard Teng, ADGM CEO, participated in last year’s Swell.
Ripple is strengthening its foothold in the region by working with regulators and increasing its list of partners.
Currently, Ripple is known to be working with the following institutions in the United Arab Emirates: