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Abu Dhabi Global Market joins R3 blockchain consortium

First Published 19th May 2017

Abu Dhabi Global Market joins R3 consortium on distributed ledger technology.

David Rutter, R3

David Rutter, R3

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has joined R3 as a new member of its international consortium. ADGM is the first regulatory body in the Middle East and North Africa (MENA) region to be part of the R3 consortium.

As a member, the ADGM FinTech team will have access to news and developments on blockchain technology, facilitate dialogues, share best practices, collaborate with leading industry institutions and regulatory bodies on next-generation platforms and technologies that will improve efficiency and enhance risk management in the capital markets.

David E. Rutter, CEO of R3, commented: "The addition of Abu Dhabi Global Market to our ever-growing network takes our global engagement with the financial industry to the next level. MENA is an important region for us as we continue to develop distributed ledger technology solutions for financial services, and banks operating in the Gulf will be key strategic partners in our collaborative efforts."