Abu Dhabi’s bourse publishes paper as it eyes crypto move

      Published on Thursday, 8 November , 2018      101 Views     
Abu Dhabi’s bourse publishes paper as it eyes crypto move


Abu Dhabi Securities Exchange (ADX) has announced the issuance of a paper on infrastructure for crypto environments as it looks to manage the transition from conventional assets to more encrypted assets.



The “thought paper” has been issued in cooperation with the Central Securities Depositories and under the patronage of the International Securities Service Association (ISSA), state news agency WAM reported on Tuesday.

ADX said it aims to “identify the technical and operational criteria required to issue crypto-assets, as well as provide a reliable reference to support financial institutions in managing the transition of the issuance of traditional and crypto-assets”.

Rashed Al Blooshi, chief executive of ADX, said:

“ADX continues its efforts to manage the transition from conventional assets to more encrypted assets, which are witnessing major and rapid development in the region.”

Al Blooshi highlighted the importance of upgrading financial market infrastructure and incorporating standards of governance within their systems to prevent market fragmentation, increase investor confidence and raise the quality of its infrastructure.

“Financial market infrastructure plays a pivotal role in supporting crypto markets, offering investor protection, preventing market fragmentation, as well as making it possible for financial institutions to provide advanced services in the field of crypto-assets,” he said.



“At ADX, we embrace new and innovative technology and are always looking to capitalise on advancements in FinTech; particularly in crypto-assets to optimise the benefits we offer to our investors and stakeholders,” he added.

Keywords:
Category Business | 2018/11/08 latest update at 6:10 PM
Source : Arabian Business | Photocredit : Google
102 Views
Comments Add comment



Related Articles

The editorial staff of Dubai Today would like to give all of its readers from Gulf and Dubai and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Dubai Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Dubai, the Gulf and the world.


Sheikh Mohammed meets Egyptian President in Beijing Emir

Sheikh Mohammed meets Egyptian President in Beijing

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, met President…

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid…

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid…

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

Under the patronage of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness…

GULF TV

Popular in GULF TV

Freelancing in the UAE region

16194 Views

The global freelancing market is set to grow $20bn by 2020. Where does the market stand here in…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government