Overview
Abu Dhabi, UAE (ARAB NEWSWIRE) — bitgrit, originally founded in Japan and now registered as an entity in the Abu Dhabi Global Market (ADGM), announced the establishment of the “BITGRIT DLT Foundation.” This foundation represents the first instance of a Japanese-rooted company leveraging ADGM’s regulatory framework to create a crypto asset foundation.
What is ADGM?
The Abu Dhabi Global Market (ADGM) is a free zone located in Abu Dhabi, UAE, and is known as an international financial center. ADGM provides a unique regulatory framework that actively supports fintech and blockchain-related businesses. In 2023, it introduced the world’s first “DLT Foundation Scheme,” designed to enhance transparency and reliability for crypto asset and distributed ledger technology (DLT) projects.
What is a DLT Foundation?
A DLT Foundation is a foundation scheme provided by ADGM, specifically tailored for projects involving crypto assets and DLT. This framework enables such projects to operate transparently and reliably. It also allows for the issuance and management of tokens in a legally authorized environment, providing significant advantages for projects prioritizing regulatory compliance.
bitgrit’s Transition and Initiatives
Originally founded in Japan, bitgrit has now transitioned into an ADGM-registered entity, placing itself at the forefront of AI and blockchain innovation in the Middle East. The company connects a global community of over 35,000 data scientists and offers innovative services through its AI competition platform and an AI marketplace currently under development.
The newly established BITGRIT DLT Foundation will form the foundation for bitgrit’s planned issuance of crypto tokens. These tokens will be utilized within the company’s platforms, enabling AI agents to leverage AI models and datasets while facilitating transactions among users through token-based ecosystems.
Future Outlook
As an ADGM-registered company, bitgrit aims to achieve the following goals:
- Token Issuance: Issue crypto tokens to build an ecosystem where AI agents can efficiently operate and interact.
- UAE Certification: Work toward listing the tokens on the UAE’s “Available Virtual Assets” list to enhance trust and adoption.
- Global Expansion: Leverage ADGM’s status as an international financial center to expand its reach from the Middle East to global markets.
CEO Comments
Kazuya Saginawa, CEO of bitgrit, stated:
“The establishment of the BITGRIT DLT Foundation is a significant milestone for us as a Japanese-rooted company operating under ADGM’s regulations. By integrating AI agents and Web3 technologies, we aim to create a new ecosystem that delivers value to both users and businesses while ensuring transparency and reliability.”
Summary
The establishment of the BITGRIT DLT Foundation highlights bitgrit’s growth from a Japan-founded company to an ADGM-registered entity. This initiative demonstrates the use of ADGM’s advanced regulatory framework and supports bitgrit’s mission to expand its presence in the Middle East and build a new economic ecosystem powered by AI agents and Web3 technologies.
About bitgrit
Founded in 2017 in Japan, bitgrit aims to democratize AI development for all creators and has been working on developing systems utilizing blockchain technology. Now registered in ADGM, the company counts international organizations such as NASA and SoftBank among its clients. It has built a global network of over 35,000 data scientists and AI engineers, advancing technologies for the optimal use of data science and AI in society.
Through its online platform and community, bitgrit pioneers next-generation solutions powered by AI agents and Web3 technologies, contributing to their societal implementation.
- Company Name: bitgrit LTD / bitgrit Inc.
- Location: DD-14–122–070, WeWork Hub 71, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE
- Representative: Kazuya Saginawa
- Founded: 2017 (Japan)
- Business: AI, Web3
- Website: http://bitgrit.net
- Social Media: X (Twitter), Medium
bitgrit is committed to shaping the future of AI agents and Web3 technologies through innovation as an ADGM-registered entity.
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