The Stacks Asia DLT Foundation Has Become the First Bitcoin-Based Foundation to Register Within the Abu Dhabi Global Market

The move aims to support the expansion of Bitcoin (BTC) layer-2 technology across the Middle East and Asia.

The Stacks Asia DLT Foundation has become the first Bitcoin (BTC)-based foundation to register within the Abu Dhabi Global Market (ADGM), highlighting the region’s interest in digital assets.

The foundation’s presence in ADGM will be governed by the ADGM Distributed Ledger Technology Foundations framework, recognized for its flexibility and adaptability.

As the premier Bitcoin layer-2 platform, Stacks aims to expand its footprint and support in the Middle East and Asia.

The move follows regulatory approval from the U.S. Securities and Exchange Commission, further strengthening the Stacks (STX) ecosystem’s regulatory position.

“We are grateful for ADGM's support of blockchain innovation and for recognizing the value that the Stacks ecosystem brings. We believe that this partnership will be instrumental in advancing Bitcoin utility and programmability in the region,” said Kyle Ellicott, interim Executive Director of the Stacks Asia DLT Foundation.

The foundation plans to collaborate closely with regional partners to organize educational programs, provide support for Bitcoin development, and work with policymakers to shape regulations around digital assets, Bitcoin utility, and yield products.

Its base in ADGM will serve as a nexus for connecting activities between Asia-Pacific and the UAE, with Hong Kong serving as a hub for the group's efforts. The focus will be on promoting Bitcoin programmability and supporting innovation in Bitcoin DeFi applications.

This registration follows the recent launch of sBTC, a 1:1 Bitcoin-backed asset on the Stacks mainnet.

sBTC enables users to participate in decentralized finance activities like lending and trading while inherently retaining the security model of Bitcoin.

Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, added: "We are pleased to welcome the Stacks Asia DLT Foundation to ADGM. This registration underscores the growing role of the UAE and ADGM in the development of digital assets and, specifically, Bitcoin layer-2 technologies."