Mastercard, BlackRock Join Middle East-Focused Blockchain Effort

Mastercard, BlackRock and Franklin Templeton are all players in a new blockchain adoption promotion effort.

That’s according to a Thursday (Dec. 18) announcement from ADI Foundation, an Abu Dhabi-based non-profit founded with the goal of “empowering governments and institutions in emerging markets” via blockchain infrastructure.

In the case of BlackRock, the asset manager has signed a memorandum of understanding (MoU) with ADI to explore accelerating blockchain adoption across financial markets and bolster the United Arab Emirates’ status as a world digital asset hub.

“The partnership targets institution-grade tokenized asset structures, improved distribution, and clear regulatory frameworks that support market growth,” ADI said.

The Mastercard collaboration is centered on blockchain-based payments and asset tokenization throughout the Middle East, and “brings stablecoin settlement, cross-border payments, and digital asset rails to the region with regulatory alignment built in.”

And investment firm Franklin Templeton signed its MoU with the ADI Foundation to explore regulated digital asset infrastructure within Abu Dhabi Global Market. This effort “focuses on building compliant pathways for institutions to create and launch tokenized products.”

It also explores creating digital rails for improved distribution and settlement, along with research into stablecoins and tokenized assets that are in keeping with regulatory requirements.

“Three global institutions partnering within days of launch signal what they need: a blockchain built for regulatory frameworks,” ADI said.

“These partnerships expand the ADI Foundation’s influence, reach, and capabilities, bringing more projects into the ecosystem as enterprises discover ADI Chain through BlackRock, Mastercard, Franklin Templeton, and expanding institutional networks.”

In other blockchain news, PYMNTS wrote last week about the increasing presence of “mainstream incumbents” in this space, following a wave of crypto announcements from globally recognized names such as YouTube, BMW, HSBC, JPMorgan and the U.S. Office of the Comptroller of the Currency.

Put together, the report added, those announcements signal where digital assets are gaining traction. They share a common thread: settlement, rather than speculation or consumer hype.

“Stablecoins and tokenized assets are increasingly being treated as tools for moving value with greater speed, programmability, and cost efficiency inside existing financial and commercial systems,” PYMNTS wrote. “What is emerging is a bifurcation in how blockchain is being adopted: as a new financial ecosystem on one end, and as a productized set of rails embedded into legacy institutions on the other.”