Stacks Asia Foundation Establishes a Presence in ADGM UAE, Becoming a Regulated Bitcoin-based Foundation

By being present in ADGM, Stacks DLT Foundation will utilize the support offered by ADGM, which supports flexible governance through token voting and smart contracts.

The Stacks Asia Foundation has established a presence in ADGM UAE, becoming a regulated Bitcoin-based foundation operating within the Abu Dhabi Global Market (ADGM) as the Stacks Asia DLT Foundation.

According to the announcement on Wednesday, this makes Stacks the first Bitcoin-based foundation to be recognized by ADGM.

The foundation will be able to offer flexible governance through token voting and smart contracts, which is supported by ADGM. This is important for Stacks as it expands the Bitcoin network without changing its core.

“We chose ADGM because of its commitment to fostering innovation in the blockchain space and rolling out a supportive regulatory framework for new technologies, ” explained Kyle Ellicott, Executive Director at the Stacks Asia Foundation.

He added, “This move also builds on Stacks’ existing SEC regulatory approvals in the U.S., adding another layer of trust and credibility to the ecosystem’s expanding footprint.”

This news comes as the Abu Dhabi Global Market (ADGM) has been actively expanding its regulatory framework to include digital assets and DLT, aiming to create a complete legal and regulatory structure for such businesses.

Earlier this year, the TON Blockchain registered its DLT Foundation at ADGM in the UAE under ADGM’s DLT Foundations framework. It was followed by Japanese Bitgrit and the Kaia DLT Foundation, which was formed through the merger of the Klaytn and Finschia blockchains initially developed by Kakao and LINE, respectively. IOTA was also one of the first DLT Foundations to be registered in ADGM.

In November 2023, the Abu Dhabi Global Market (ADGM) introduced the Distributed Ledger Technology (DLT) Foundations Regulations 2023, presenting the world’s first legal framework for blockchain within its jurisdiction.

Using ADGM as a hub, Stacks will bridge its presence in Hong Kong with the UAE. The Stacks Foundation will work with UAE local partners to launch educational programs for Bitcoin developers and users, support policy initiatives that advance Bitcoin DeFi, yields, and digital asset regulations, as well as foster collaboration between institutions, builders, and innovators.

With the launch of sBTC earlier this year, users can now access a 1:1 Bitcoin-backed, programmable asset for lending, trading, and more, without compromising Bitcoin’s security. The Stacks Asia Foundation will build on this by empowering builders, educating institutions, and creating pathways for Bitcoin-powered DeFi in both Asia and the Middle East.

“We are pleased to welcome the Stacks DLT Foundation to ADGM, ” said Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority.

“The Foundation’s registration underscores the UAE’s role in fostering innovation in the digital asset space, paving the way for significant advancements in Bitcoin Layer-2 solutions and wider blockchain adoption across the Middle East.”