Stacks Asia joins Abu Dhabi Global Market to boost Bitcoin L2 growth

The Stacks Asia DLT Foundation has become the first Bitcoin-based foundation to register within the Abu Dhabi Global Market. The move aims to support the expansion of Bitcoin (BTC) layer-2 technology across the Middle East and Asia.The foundation will use ADGM’s Distributed Ledger Technology Foundations framework, which is recognized for its flexibility. Kyle Ellicott, interim Executive Director of the Stacks Asia DLT Foundation, said the decision was based on ADGM’s support for blockchain innovation and alignment with the Stacks (STX) ecosystem’s goals.Stacks is a Bitcoin layer-2 platform that extends Bitcoin’s functionality without changing its core network. Its expansion into ADGM follows regulatory approval from the U.S. Securities and Exchange Commission, strengthening its regulatory position.Regional collaboration The Stacks Asia DLT Foundation plans to collaborate with regional partners to run education programs and support Bitcoin development. It will also work with policymakers to shape regulations around digital assets, Bitcoin utility, and yield products.Ellicott said the foundation will use its base in ADGM to connect activities between Asia-Pacific and the UAE, with Hong Kong serving as a hub. The group will focus on promoting Bitcoin programmability and supporting innovation in Bitcoin DeFi applications.The foundation also plans to build on the recent launch of sBTC, a 1:1 Bitcoin-backed asset on the Stacks mainnet. sBTC allows users to participate in decentralized finance activities like lending and trading while keeping Bitcoin’s security model.Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, said Stacks’ registration shows the region’s growing role in digital assets and Bitcoin layer-2 development.The move comes as interest in Bitcoin-based technologies continues to grow across Asia and the Middle East.