Chainlink Labs Expands MENA Presence, Sets Up Regional Office in Abu Dhabi

Chainlink Labs, the primary contributor behind the decentralized blockchain oracle network Chainlink, has expanded its presence in the Middle East and North Africa (MENA) region, establishing an office in Abu Dhabi, United Arab Emirates.

In a press release, Chainlink Labs revealed that the new entity is compliant with the registration authority of the Abu Dhabi Global Market (ADGM), a financial center located in the heart of the UAE’s capital city.

“The MENA region has become a global destination for innovators from around the world and a hub for the adoption of on-chain finance. We are excited to expand the global footprint of the Chainlink standard by establishing a presence in Abu Dhabi and working closely with key financial market infrastructures and financial institutions in the region to bring tokenized assets to production,” said Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs and Senior Executive Officer at Chainlink Labs Abu Dhabi.

Chainlink Establishes Office in Abu Dhabi

Setting up shop in Abu Dhabi could open many doors for Chainlink. The blockchain developer plans to expand its network of strategic partnerships with financial institutions and build key relationships in the MENA region.

A pseudonymous advocate for the blockchain network explained on X that Chainlink could witness an influx of “Arab money” due to its establishment in the ADGM. Abu Dhabi is an international financial hub that attracts diverse investments, global asset managers, and hedge funds, indicating a large scale of financial activity in the city.

Authorities in the MENA region are spending billions of dollars to infuse disruptive technologies in their cities, intending to smartly track sectors like real estate, oil, deliveries, and even citizens’ digital identities. Interestingly, local and international banks want to create financial products that comply with Islam’s Sharia Law, so they need blockchain technology to ensure a transparent and fair process.

Growth Potential For LINK

With the growing development of MENA and Chainlink possibly powering the region’s digital economy transformation, governments, banks, and big investors will invest in billions of Chainlink’s native token, LINK, because they need the assets to navigate the network.

Historical data shows that an influx of capital in an ecosystem increases the value of native cryptocurrencies. Hence, LINK could skyrocket in value in the coming years. Chainlink’s significant growth in active addresses further substantiates this possibility, signaling heightened interest in its solutions.