In short: Coinbase is exploring the United Arab Emirates (UAE) as a potential strategic hub for international operations by expanding licensing for its recently launched Coinbase International Exchange. The exchange's executive team, including co-founder and CEO, Brian Armstrong, are currently in the UAE for meetings with policymakers and crypto founders. Coinbase is also working with regulators in Dubai to create a comprehensive framework for cryptocurrency assets and aligning with the region's objective of becoming a blockchain leader. While it remains unclear if Coinbase will centre operations in the UAE, it's remained committed to the US.
Our quick analysis:
In a recent blog post, Coinbase's vice president for international and business development, Nana Murugesan, reveals that the cryptocurrency exchange is in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing for Coinbase International Exchange. The exchange is considering the United Arab Emirates (UAE) as a strategic hub for its international operations.
Coinbase's CEO, Brian Armstrong, is attending the Dubai Fintech Summit to give a keynote speech and meet with policymakers, Web3 and crypto founders, and clients. The exchange believes that the UAE, serving as a bridge between Asia and Europe, will aid in expanding its global footprint.
Coinbase also praised the UAE for its welcoming environment for crypto businesses and the development of the Web3 ecosystem. The country's objective of becoming a global leader in the blockchain space aligns with Coinbase's goal of bringing one billion users to the nascent sector.
While the exchange has not confirmed whether it will center its operations in the UAE, Armstrong clarifies that Coinbase remains 100% committed to the US.
In short, Coinbase sees the UAE as an attractive location to invest in due to its favorable regulatory environment, which is similar to that of the US. The exchange's move to expand globally presents new opportunities for the crypto industry, and it will be interesting to see how this development unfolds.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
In a recent blog post, Coinbase's vice president for international and business development, Nana Murugesan, reveals that the cryptocurrency exchange is in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing for Coinbase International Exchange. The exchange is considering the United Arab Emirates (UAE) as a strategic hub for its international operations.
Coinbase's CEO, Brian Armstrong, is attending the Dubai Fintech Summit to give a keynote speech and meet with policymakers, Web3 and crypto founders, and clients. The exchange believes that the UAE, serving as a bridge between Asia and Europe, will aid in expanding its global footprint.
Coinbase also praised the UAE for its welcoming environment for crypto businesses and the development of the Web3 ecosystem. The country's objective of becoming a global leader in the blockchain space aligns with Coinbase's goal of bringing one billion users to the nascent sector.
While the exchange has not confirmed whether it will center its operations in the UAE, Armstrong clarifies that Coinbase remains 100% committed to the US.
In short, Coinbase sees the UAE as an attractive location to invest in due to its favorable regulatory environment, which is similar to that of the US. The exchange's move to expand globally presents new opportunities for the crypto industry, and it will be interesting to see how this development unfolds.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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