{"id":323333,"date":"2023-05-08T14:45:09","date_gmt":"2023-05-08T13:45:09","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=323333"},"modified":"2023-05-08T16:20:16","modified_gmt":"2023-05-08T15:20:16","slug":"coinbase-is-considering-uae-for-its-international-hub","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/coinbase-is-considering-uae-for-its-international-hub\/","title":{"rendered":"Coinbase is considering UAE for its international hub"},"content":{"rendered":"

US-based crypto exchange Coinbase is considering using the United Arab Emirates as the hub for its international service in the Middle East and other nearby regions.<\/p>\n

In a May 8 tweet<\/a>, Coinbase's VP of International & Business Development, Nana Murugesan, said the country has the potential to be a strategic hub for the exchange.<\/p>\n

The exchange's CEO Brian Armstrong praised UAE's progressive regulatory efforts<\/a> in the crypto space. He said:<\/p>\n

“[UAE has the] first dedicated crypto regulator in the world, a clear rule book published (!), business-friendly plus strong customer protections.”\u00a0<\/span><\/p><\/blockquote>\n

Why Coinbase wants to expand to UAE<\/h2>\n

In a May 8 blog post<\/span><\/a>, Murugesan explained why the exchange was thinking of expanding to UAE.<\/p>\n

According to the post, UAE has become the center of web3 innovation and a “key hub in the Middle East, Africa, and India as we explore crypto use cases that are relevant for the broader region.”<\/p>\n

Due to its location, large expatriate population, state of the economy, other demographic qualities, and regulatory clarity on crypto \u2014 Coinbase believes it is an ideal country for investment.<\/p>\n

“[UAE] serves as a particularly strategic bridge between Asia and Europe – two of our existing focus international regions to date.”<\/p><\/blockquote>\n

Murugesan wrote that Coinbase plans to register and license the Coinbase International Exchange in UAE and is working with the Abu Dhabi Global Market (ADGM) regulators to achieve this.<\/p>\n

The exchange is also in discussion with Dubai's Virtual Assets Regulatory Authority (VARA) and seeks to be licensed by the regulatory agency. VARA is currently working on a retail framework for crypto trading activities in the country.<\/p>\n

Recent regulatory troubles<\/a> in the United States have forced Coinbase to spread its tentacles abroad. Earlier in the month, it launched<\/a> an international derivatives exchange targeted at professional traders. The exchange is licensed by Bermuda Monetary Authority (BMA).<\/p>\n","protected":false},"excerpt":{"rendered":"

US-based crypto exchange Coinbase is considering using the United Arab Emirates as the hub for its international service in the Middle East and other nearby regions. In a May 8 tweet, Coinbase’s VP of International & Business Development, Nana Murugesan, said the country has the potential to be a strategic hub for the exchange. The […]<\/p>\n","protected":false},"author":720,"featured_media":323337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,77968],"tags":[76714,77488],"post_folder":[],"acf":[],"yoast_head":"\nCoinbase is considering UAE for its international hub<\/title>\n<meta name=\"description\" content=\"Coinbase CEO Brian Armstrong praised United Arab Emirate's (UAE) progressive regulatory efforts in the crypto space.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/coinbase-is-considering-uae-for-its-international-hub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase is considering UAE for its international hub\" \/>\n<meta property=\"og:description\" content=\"Coinbase CEO 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