Kraken opens headquarters in UAE capital

The popular cryptocurrency exchange Kraken has received a license to operate as a cryptocurrency service provider in Abu Dhabi.

In this regard, the regional headquarters of the company was opened in the capital of the UAE. Now the exchange can offer users the opportunity to legally trade virtual assets.

The official activity of the exchange in the UAE will begin in the II or III quarter of 2022. This was stated by a representative of the Abu Dhabi regulator that issued the license. Exchange clients will be able to enter dirhams, exchange national currency for digital assets, and withdraw funds to cards and bank accounts.

Recall that since 2018, Abu Dhabi has officially approved the regulatory framework for digital assets. Also since March, cryptocurrencies have been officially regulated in Dubai. Therefore, the UAE is now actively attracting the world's largest crypto firms.

In addition to Kraken, the Binance and FTX exchanges officially operate on the territory of the Emirates. Also, Bybit and announced their intention to expand their presence in the UAE.

CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

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