Abu Dhabi Global Market (ADGM) announced on LinkedIn that Venom Blockchain has become the first ADGM licensed crypto foundation to build a scalable blockchain platform.
ADGM also stated, “Venom is on its way to developing an NFT marketplace, derivative exchange and fiat-backed stablecoin”
The statement added that Venom Foundation is set to become one of the most anticipated blockchain phenomena, enriching the ADGM community and the nation as a whole!
Venom Foundation perpetually works on providing an abundant bundle of scalable blockchain-powered products and services for the wider financial community. Through robust security measures and a rich database, Venom Foundation has produced an array of self-sufficient tools, including e-wallets, decentralised exchanges and more.
The statement then noted, “Subject to the relevant regulatory approvals, Venom Foundation will work with ecosystem participants to ensure that such products are offered in a compliant manner within the trusted and well-regulated environment of ADGM.”
Prior to the announcement Venom Foundation in their news release stated, “Venom Foundation has been registered as the first crypto foundation in the ADGM, with a license to operate a blockchain and issue utility tokens. ADGM is well known as a fintech oasis for investors and financial services firms in the region and from around the globe. The next essential step of Venom Blockchain is its launch which will be announced soon.”
Venom blockchain is an asynchronous blockchain technology of dynamical sharding, that has made a leap in blockchain technology development globally, bringing to the market boundless scalability, and higher security guarantees with decentralisation.
Venom Foundation has three core directions, such as Essential Infrastructure, Support of Inbound Projects, Developer-friendly Platform, each to offer novel solutions for solving earlier existing issues in the crypto market.
