Coinbase Sets Up Blockchain Hub in Abu Dhabi Financial Centre

Coinbase has established its international tokenization hub in Abu Dhabi's financial centre, Abu Dhabi Global Market (ADGM).

This move comes as the GCC blockchain market continues to flourish. The emirate's financial centre has granted Coinbase a license to arrange investment deals and provide custody for tokenized securities.

Custody refers to safely holding and managing digital ownership records for assets, which is essential for giving institutional investors confidence.

Au Dhabi has emerged as a key testing ground for the transition of traditional finance onto blockchain infrastructure. The ADGM introduced one of the world's first comprehensive virtual asset regulatory frameworks in 2018 and has since attracted over 20 firms with active virtual asset licenses.

Coinbase is betting that more of the world's financial system will eventually move onto blockchain, and it wants Abu Dhabi to be at the centre of this change.