The Avalanche Foundation establishes a distributed ledger technology entity in Abu Dhabi.

PANews reported on December 16th that, according to Crowdfundinsider, the Avalanche Foundation recently announced the formal establishment of a Distributed Ledger Technology (DLT) Foundation within the Abu Dhabi Global Market (ADGM) to support the adoption of Web3 applications, business collaboration, and ecosystem development in the Middle East and North Africa (MENA) region. This DLT entity (AvalancheDLT Foundation) will serve as Avalanche's main regional foundation in the region, "supporting relevant projects, partnerships, government initiatives, business participation, and developer outreach activities within a clear and credible regulatory framework." It will also integrate existing MENA initiatives, "forming a unified architecture to improve transparency and operational efficiency."