The Abu Dhabi Securities Exchange (ADX) has signed a partnership agreement with the British financial company Equichain, which provides technological blockchain services for capital markets.
Equichain will advise ADX how to use new technologies including blockchain to best improve the operational efficiency of the exchange in terms of transaction speed and security.
In addition, the British blockchain startup manages two exclusive working groups bringing together institutional investors and market infrastructure suppliers, respectively.
“The open exchange with Equichain and members of the working group will allow us to identify and test new applications of blockchain technology, aiming to enhance the speed and security of capital market transactions to the benefit of our investors and stakeholders,” ADX Chief Executive Rashed Al Blooshi said.
ADX may be the first stock market in the Middle East and North Africa (MENA) region, using blockchain technology in its services.
Previously, the Australian Stock Exchange (ASX) announced the replacement of the existing system of registration, mutual settlements, and clearing settlements CHESS for a blockchain solution.
By Ekaterina Ulyanova