After the popular US-based cryptocurrency exchange Coinbase announced the launch of its global derivatives platform, company executives began meeting with industry leaders and policymakers in the UAE.
In a blog post published by the exchange on May 7, Coinbase said that CEO Brian Armstrong and several members of the company's executive team plan to discuss the possibility of establishing a strategic center for the exchange in the UAE. According to the company, it is working with regulators in the Abu Dhabi Global Market and the Dubai Virtual Assets Regulatory Authority as part of its efforts to potentially expand in the region.
While attending the Dubai FinTech Summit on May 8, Armstrong noted that the UAE is interesting for the stock exchange as a potential international hub, which could serve not only the Middle East, but also parts of Africa and other countries in Asia. He added: I think that the United States is currently lagging behind in terms of regulatory clarity.
