TON Blockchain registers DLT Foundation in ADGM UAE

TON Blockchain registers DLT Foundation in ADGM UAE

The TON Blockchain has registered its DLT Foundation at ADGM in UAE under ADGM’s DLT Foundations framework.

The TON DLT Foundation aims to contribute to the adoption of TON Blockchain with a strategic focus on expanding the network’s presence in the Middle East and North Africa (MENA) as well as Asia Pacific regions.

It wants to reach 500 million users in MENA and APAC by 2028.

Recently OKX Ventures, the investment arm of leading crypto exchange and global onchain technology company OKX, announced a $5 million investment in TON Ventures, a venture capital fund dedicated to accelerating growth within The Open Network (TON) blockchain ecosystem. The investment is aimed at establishing a network of experienced builders to develop best practices for TON applications.

This move complements OKX Ventures’ recently launched $10 Million Telegram Growth Hub, in partnership with The Open Platform and Folius Ventures, by focusing on technical expertise and development standards. With direct access to Telegram’s 950 million monthly active users and successful mini-apps like Notcoin, OKX Racer and Catizen, TON continues to demonstrate strong potential for mass adoption.

Having secured $40 million in initial funding, TON Ventures combines deep ecosystem expertise through its founders Ian and Inal. The fund typically deploys investments of up to $500,000 for early-stage projects, while maintaining flexibility for larger opportunities. In the coming months, TON Ventures will focus on supporting the emergence of midcore gaming experiences, an expansion of monetization tools available to creators and the continued growth of the decentralized finance sector on TON.

Japanese bitgrit establishes DLT Foundation in ADGM UAE

Japanese bitgrit establishes DLT Foundation in ADGM UAE

bitgrit, founded in Japan, aims to democratize AI development for all creators and has been working on developing systems utilizing blockchain technology. has announced that it has registered its DLT Foundation at ADGM in UAE.

As per the announcement, this foundation represents the first instance of a Japanese-rooted company leveraging ADGM’s regulatory framework to create a crypto asset foundation.

A DLT Foundation is a foundation scheme provided by ADGM, specifically tailored for projects involving crypto assets and DLT. This framework enables such projects to operate transparently and reliably. It also allows for the issuance and management of tokens in a legally authorized environment, providing significant advantages for projects prioritizing regulatory compliance.

bitgrit has now transitioned into an ADGM-registered entity, placing itself at the forefront of AI and blockchain innovation in the Middle East. The company connects a global community of over 35,000 data scientists and offers innovative services through its AI competition platform and an AI marketplace currently under development.

The newly established BITGRIT DLT Foundation will form the foundation for bitgrit’s planned issuance of crypto tokens. These tokens will be utilized within the company’s platforms, enabling AI agents to leverage AI models and datasets while facilitating transactions among users through token-based ecosystems.

Kazuya Saginawa, CEO of bitgrit, statedm “The establishment of the BITGRIT DLT Foundation is a significant milestone for us as a Japanese-rooted company operating under ADGM’s regulations. By integrating AI agents and Web3 technologies, we aim to create a new ecosystem that delivers value to both users and businesses while ensuring transparency and reliability.”

bitgrit DLT Foundation aims to issue crypto tokens to build an ecosystem where AI agents can efficiently operate and interact, and work toward listing the tokens on the UAE’s “Available Virtual Assets” list to enhance trust and adoption, while expanding from the MENA region to global markets.

In August 2024, Kaia DLT Foundation got licensed in ADGM and their mainnet will be launched on August 29th 2024. Prior to that IoTA also launched its DLT Foundation from ADGM.