{"id":24901,"date":"2022-04-25T04:50:03","date_gmt":"2022-04-25T08:50:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=24901"},"modified":"2022-04-25T05:04:32","modified_gmt":"2022-04-25T09:04:32","slug":"crypto-exchange-kraken-gets-abu-dhabi-license","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-exchange-kraken-gets-abu-dhabi-license\/","title":{"rendered":"Crypto Exchange Kraken Gets Abu Dhabi License"},"content":{"rendered":"\n
One of the world's largest cryptocurrency exchanges, Kraken received approval to operate in Abu Dhabi<\/a>. The exchange enters a widespread push into the Middle East, which is seeing a surge in crypto adoption.<\/h5>\n\n\n\n
\"Crypto<\/figure><\/div>\n\n\n\n

The move was announced by Abu Dhabi's market registration authorities in a statement\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. The exchange is the first to get a license from the Abu Dhabi Global Market financial center to operate a regulated digital asset exchange, according to the regulator.<\/p>\n\n\n\n

The move comes as the United Arab Emirates (UAE) increases its efforts to become the next crypto capital. Abu Dhabi had in 2018 passed crypto-friendly regulation, attracting ventures from several major crypto players.<\/p>\n\n\n\n

Kraken establishes Middle East headquarters in Abu Dhabi<\/strong><\/h3>\n\n\n\n

Kraken, which has over 9 million users globally has established its Middle East headquarters in Abu Dhabi, the markets regulators said.<\/p>\n\n\n\n

The exchange obtained all of the necessary clearances from Abu Dhabi's financial regulator and will soon allow investors to trade cryptocurrency directly in UAE Dirham.<\/p>\n\n\n\n

Curtis Ting, Kraken's Managing Director of EMEA, praised the UAE's crypto-friendly laws and stated that the exchange intends to expand in the Middle East and North Africa region “in the months and years ahead.”<\/p>\n\n\n\n

Kraken's approval also surpasses that of Binance, the world's largest crypto exchange, which only has an in-principle license to operate in Abu Dhabi.<\/p>\n\n\n\n

United Arab Emirates attracts crypto investors<\/strong><\/h3>\n\n\n\n

Both Binance and Kraken recently received licenses<\/a> to operate in Dubai, another major financial center in the UAE. To entice more investment, the city recently passed crypto-friendly laws.<\/p>\n\n\n\n

Binance set up its global headquarters in Dubai. It is also one of the few exchanges that have recently been granted permission to operate in Bahrain.<\/p>\n\n\n\n

The world's second-largest cryptocurrency exchange, FTX just received a license to operate in <\/a>Dubai and aims to establish its regional headquarters there. Bybit<\/a> and Crypto.com, two smaller exchanges, also both recently received licenses to operate in Dubai.<\/p>\n\n\n\n

According to a 2021 report<\/use><\/svg><\/span><\/a> by blockchain analytics firm Chainalysis, the UAE is ranked third in the Middle East in crypto adoption, behind Turkey and Lebanon.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the world’s largest cryptocurrency exchanges, Kraken received approval to operate in Abu Dhabi. The exchange enters a widespread push into the Middle East, which is seeing a surge in crypto adoption. The move was announced by Abu Dhabi’s market registration authorities in a statement . The exchange is the first to get a […]<\/p>\n","protected":false},"author":32,"featured_media":24907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1822,1671],"class_list":["post-24901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-abu-dhabi","tag-kraken"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/kraken.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=24901"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/24907"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=24901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=24901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=24901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}