The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aimed at promoting the institutional adoption of Bitcoin thanks to enlarged educational initiatives.
Stacks Asia has teamed up with ABU Dhabi Global Market (ADGM) – one of the fastest growth financial centers in the world – in a decision that could stimulate the adoption of its Bitcoin (BTC) layer 2 (L2) solution in the Middle East and Asia.
The new partnership will play a “central role” in the training of the future of Bitcoin’s “programmability and adoption” in these regions through educational programs and support for Bitcoin manufacturers, according to an announcement of April 28 shared with Cointtelegraph.
Thanks to collaboration, the batteries and the ADGM aim to facilitate the participation of institutions and investors in the growing bitcoin economy and to help establish “new standards of regulatory clarity and technical growth” for the rise of Bitcoin Capital, according to Kyle Ellicott, executive director of the Foundation Esia DLT.
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“The batteries and the ADGM are a powerful combination to accelerate the adoption of bitcoin through the Middle East and Asia,” Ellicott told Cointelegraph, adding:
“The ADGM has established itself as a global world class financial center at the heart of the United Arab Emirates, known as” Capitol of the Capital “, where capital and innovation are brought together to shape the future financial landscape.”
“We will work to allow the launch of educational programs, regional development communities and create opportunities for the adoption of the real world of applications fueled by Bitcoin,” he said.
From May, the Foundation will organize a series of live and virtual events to “empower institutions” with knowledge to integrate bitcoin into their operations and learn more about “the productive capital of Bitcoin”, added Ellicott.
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Stacks Foundation Foundation for a “progressive” regulatory environment around the world
As a main Bitcoin scalability solution, Stacks also put pressure for gradual global regulations that will cement the role of Bitcoin in the future of the financial landscape.
“We are not only concentrated locally – our team is engaged in global conversations, pleading for executives who balance decentralization, security, innovation and compliance surrounding the unlocking of the Bitcoin capital,” said Ellicott.
A key element of the strategy concerns the sharing of knowledge with local regulation organizations to strengthen the understanding of government officials on the characteristics of Bitcoin and the potential economic impact.
The Foundation also develops the Bitcoin capital activation framework, described as a complete policy plan to help regulators allow Bitcoin utility in their jurisdictions.
The Stacks Foundation will also launch Bitcoin Policy Bridge in May, a working group unifying the regulators of all key jurisdictions in the Middle East and Asia.
In February, ADGM signed a memorandum of understanding with the Solana Foundation to advance the development of the technology of the great distributed book.
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