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Kraken receives crypto license for Abu Dhabi

 


The US crypto exchange Kraken receives a license for the distribution of Bitcoin and Co. in Abu Dhabi Global Market, the financial center of the capital of the United Arab Emirates.

Kraken has over eight million users worldwide.

Operations in Abu Dhabi are scheduled to start in the second or third quarter.

The United Arab Emirates has been opening the gates to crypto exchanges worldwide for months. FTX received its license in March 2022. Industry giant Crypto.com also wants to expand there.

According to data service provider Chainalysis , the UAE is the third largest crypto hub in the Middle East after Turkey and Lebanon. The transaction volume in 2021 was around 26 billion US dollars.

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