Thursday, May 18, 2017
Dubai: Abu Dhabi Global Market (ADGM), the emirate’s financial centre, said on Thursday it has joined R3, a New York-based financial technology firm, as a member of its international consortium.
ADGM is the first regulatory body in the Middle East and North Africa to be part of the R3 consortium, comprising over 80 members from financial institutions and regulators around the world.
“We will be able to closely monitor blockchain developments and better assess the impact to financial market and the economy, as well as to develop effective RegTech solutions that benefit the financial industry. We strive to continuously enhance market efficiency as well as boost investor access to emerging and frontier markets while upholding high regulatory practice,” said Richard Teng, chief executive officer of financial services regulatory authority of ADGM.
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