• Coinbase, America’s largest cryptocurrency exchange, is considering the United Arab Emirates (UAE) as a potential strategic hub for its international operations.
• Coinbase executives are in the UAE to meet with policymakers, Web3 and crypto founders, and clients.
• The exchange is working with Abu Dhabi Global Market regulators and Dubai’s Virtual Assets Regulatory Authority (VARA) to expand their licensing and create a comprehensive framework for crypto assets.
Coinbase Sees UAE as Strategic Hub
America’s largest cryptocurrency exchange Coinbase is eyeing the United Arab Emirates (UAE) as a potential hub for their international operations. Co-founder and CEO Brian Armstrong and vice president of international business development Nana Murugesan are currently in the UAE to meet with policymakers, get insights from Web3 founders, and connect with clients.
Partnering With Regulatory Agencies
Coinbase has also begun talks with Abu Dhabi Global Market regulators to expand the just-launched Coinbase International Exchange’s licensing. The exchange is also working alongside Dubai’s Virtual Assets Regulatory Authority (VARA) in creating an extensive framework for crypto assets.
Brian Armstrong Keynote Speech
Brian Armstrong will be giving a keynote speech at this week’s Dubai Fintech Summit which is being patronized by the Royal Highness who also serves as Deputy Prime Minister and Minister of Finance. Murugesan echoed Armstrong’s sentiments that “there is no doubt that UAE has the potential to be a strategic hub for Coinbase amplifying our efforts across the world.”
A Welcome Environment
The team from Coinbase have expressed their gratitude towards UAE’s welcoming environment towards cryptocurrencies and blockchain technology initiatives which makes it an ideal place for them to expand their global footprint.
Conclusion
Coinbase hopes that this establishment in UAE will help them grow even further on an international level while adhering to all regulations set forth by authorities like Abu Dhabi Global Market regulators or Dubai’s Virtual Assets Regulatory Authority (VARA).