Chainlink Expand its Presence to Middle East Following Coinbase Integration of it’s Digital Asset

Chainlink Labs, the leading developer of the Chainlink decentralized oracle network, has announced a significant expansion into the Middle East and North Africa (MENA) region. The strategic move establishes a formal entity in Abu Dhabi, registered under the regulatory authority of the Abu Dhabi Global Markets (ADGM).

Notably, the expansion represents more than a mere geographical presence; it signifies a strategic initiative to cultivate strong relationships and partnerships within the MENA financial ecosystem.

Chainlink Labs intends to leverage its new Abu Dhabi base to collaborate closely with key financial market infrastructures and institutions, further solidifying its position as a global leader in decentralized oracle solutions.

Strategic Pursuit of Regional Integration

Angie Walker, Chainlink Labs’ Global Head of Banking and Capital Markets, highlighted this dynamic, stating, “The MENA region has become a global destination for innovators from around the world and a hub for the adoption of on-chain finance.” This observation reflects the increasing recognition of the region’s potential for technological advancements and its attractiveness to both established and emerging technology companies.

Chainlink Labs’ commitment to the MENA region extends beyond networking and partnership building. The company is actively pursuing the integration of its technology with regional financial institutions to facilitate the seamless introduction and management of tokenized assets into production environments.

Additionally, The collaborative approach is expected to drive innovation and accelerate the adoption of blockchain-based solutions within the financial sector.

The welcome extended by the ADGM reinforces the significance of Chainlink Labs’ arrival. Hamad Sayah, CEO of the ADGM Registration Authority, commented, “Chainlink Labs’ increased presence in the region highlights the growing demand for blockchain-based on-chain finance solutions and tokenized assets, with Abu Dhabi, the ‘Capital of Capital’, providing the ideal environment for further expanding the global footprint of the Chainlink standard.”

Notably, the statement highlights Abu Dhabi’s proactive embrace of innovative technologies and its aspiration to become a leading center for blockchain and fintech advancements.

Coinbase Integrate Chainlink Standard

Coinbase, announced today a significant advancement in its Project Diamond initiative. Project Diamond, a compliant digital asset platform designed specifically for global institutional investors, has integrated the Chainlink standard as its foundational infrastructure for comprehensive tokenized asset lifecycle management.

Furthermore, integration represents a pivotal step toward accelerating the mainstream adoption of digital assets within the institutional landscape. The core functionality of Project Diamond centers on providing a secure and regulated environment for institutional participation in the burgeoning digital asset market.

Before the Chainlink integration, institutions faced significant challenges related to data accuracy, cross-chain interoperability, and regulatory compliance. These challenges often served as major barriers to entry for many institutions hesitant to embrace digital assets due to perceived risks.