Stock exchange Abu Dhabi (ADX), in cooperation with the Central securities Depository of the Emirate and the International Association for securities (ISSA) determined the vector of development for the cryptocurrency assets in the region. It is reported by news Agency of United Arab Emirates WAM.

The document says that the ADX is ready to support and advise financial institutions that are planning to provide associated with cryptoidentity services or to move from traditional to digital tools.

ADX is also working on the definition of “technical criteria required for the release of scriptaction”.

The ADX head Rashed al Bloushi noted that the current market financial infrastructure of Abu Dhabi is in need of modernization, particularly in the development of management standards.

“Financial market infrastructure plays a key role in supporting kaptarenko, providing protection to investors and prevent fragmentation of the market,” said al Blooshi.

He added that ADX uses innovative technology and benefits of digital assets.

We will remind, in June it became known that British FINTECH-startup Equichain will advise the stock exchange of Abu Dhabi in the use of new technologies including the blockchain.

ForkLog earlier reported that the UAE authorities have equated the conduct of the ICO to issue securities. Also by 2021, the UAE intends to become a leader in the blockchain industry.