Coinbase Sets Up International Tokenization Hub in Abu Dhabi

Coinbase has established its presence in the Middle East by setting up an international tokenization hub in Abu Dhabi. The company received a Financial Services Permission from Abu Dhabi Global Market's regulatory authority, allowing it to build and operate a tokenization hub.

The license granted to Coinbase is specific to arranging investment deals and providing custody services for tokenized securities. These are digital representations of actual shares that are fully backed by underlying equities, with verified shareholder rights such as dividends and voting rights.

Coinbase's move into Abu Dhabi follows the UAE's efforts to attract crypto firms. The company has also announced plans to set up a global derivatives hub in Dubai, indicating its ambitions extend beyond tokenization.