According to Cointelegraph, a new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi’s free economic zone that aims to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa, and Asian regions.

The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) was officially launched on Nov. 8 in the Abu Dhabi Global Market (ADGM), a free economic zone based in the center of the city subject to its own set of civil and commercial laws. The zone was designed to further the growth of fintech companies in the United Arab Emirates (UAE).

The nonprofit organization will aim to facilitate regulatory solutions, create commercial opportunities and invest in education to support industry growth, according to its website.

The association will be spearheaded by board chairman Jehanzeb Awan, founder of an international risk and compliance consulting firm headquartered in Dubai.