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3rd Party: 11 Dec 2024
The Open Network Foundation (TON Foundation) announced during Abu Dhabi Finance Week its registration as a Distributed Ledger Technology (DLT) Foundation under the Abu Dhabi Global Market's (ADGM) pioneering DLT Foundations Framework. TON Foundation’s establishment of a DLT Foundation with ADGM, a leading International Financial Centre (IFC), is set to play a pivotal role in accelerating the realization of TON’s ambitious vision of empowering 500 million users by 2028.
This initiative leverages ADGM’s groundbreaking Distributed Ledger Technology (DLT) Foundations Regulations, which provide global support for decentralized organizations, enabling ecosystems like TON’s to thrive with clarity and security. This milestone aligns with the TON DLT Foundation’s mission to advance the core development and global adoption of the TON Blockchain while promoting decentralization and community-driven governance, as well as ADGM’s vision of establishing Abu Dhabi as a global blockchain hub by setting new standards for regulatory clarity and fostering innovation in the blockchain space.
Expanding Horizons: Strengthening TON Foundation’s Global Presence
The TON DLT Foundation complements the work of TON Foundation, a non-profit organization established in Switzerland in 2023. While the Swiss Foundation focuses on ecosystem development in Europe and the West, the DLT Foundation will prioritize developer engagement, blockchain adoption, and expanding TON’s presence in the Middle East and North Africa (MENA) and Asia-Pacific (APAC) regions.
“We are proud that it was always the community who spearheaded the development of TON,” said Steve Yun, President of The Open Network Foundation. “With the advent of the TON DLT Foundation, we foresee a birth of another decisive leadership within the TON Community.”
“The TON DLT Foundation represents a bold step toward the future of decentralization,” said Victor Ammer, Council Member, TON DLT Foundation. “Based in Abu Dhabi, we are at the heart of innovation, empowering developers and communities across MENA and APAC to harness the transformative potential of blockchain technology. Our mission is clear: to lead TON into a new era of global adoption and inclusion. Registered in ADGM, we are dedicated to transparency, innovation, and compliance as we expand TON’s reach from Abu Dhabi to the world.”
Shaping The Future of Blockchain Development
This announcement underscores TON’s commitment to shaping the future of blockchain through innovation, collaboration, and strategic regional engagement. Together with its global community and local partners, the TON DLT Foundation will drive transformative change in the adoption and growth of blockchain technologies worldwide.
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