OKLink admitted into Abu Dhabi Global Market Sandbox

The Abu Dhabi Global Market (ADGM) announced yesterday that OKLink has been accepted into the second cohort of its Regulatory Laboratory (RegLab).

Abu Dhabi Global Market is the international financial centre located in Abu Dhabi and the RegLab is a specially-tailored regulatory framework which provides a controlled environment for FinTech participants like OKLink to test innovativeFinTech solutions.

OKLink is a cross-border payments platform provider that utilizes blockchain to provide services in over 40 countries today. OKLink’s objective under the RegLab is to expand our payments solutions to empower Middle Eastern businesses, develop Abu Dhabi as a regional hub, and to be fully licensed under the ADGM financial regulation by the end of testing period.

Jason Lau, OKLink’s Vice President, says: “We are excited to join the ADGM Fintech RegLab as we continue our mission of improving cross-border payments for all. OKLink strives to provide its partners with safe and effective low-value payment solutions, and the ADGM Fintech RegLab’s forward-thinking regulatory framework will allow us to continue to prove out our innovative blockchain based network. We are thankful for the RegLab’s professionalism, and we look forward to promoting and support the RegLab innovative initiative.”

OKLink’s Chief Risk Officer & Head of Government Relations Tim Byun stated from the 2017 FINTECH ABU DHABI Summit that OKLink applied to the ADGM’s RegLab to grow OKLink’s presence in the Middle East with the support of a healthy pro-regulatory environment. More specifically, we believe the exciting fintech landscape of the Middle East will be a promising expansion opportunity and complement OKLink’s strong Asia presence.

For more details, please refer to the ADGM’s official release here.

October 23rd 2017: Link to official press release updated.