Up to 7% of Global Cryptocurrency Trading is Coming Out of the Gulf Region

Last updated: April 28, 2022 4:38 am

1 Min Read

#crypto #exchange #UAE #Kraken #Binance

“US-based crypto exchange Kraken is receiving a license to operate a virtual assets platform in the United Arab Emirates”–Paul Ebeling

Kraken (private) recently gained a license to operate a virtual assets platform in the region by the Abu Dhabi Global Market (ADGM), an Abu Dhabi-based regulator.

Binance (private), the world’s largest crypto exchange, was granted a license “in principle” to operate in the region 2 wks ago.

“If I remember correctly from recent figures, the UAE itself is second only to Turkey in [crypto trading] volume. I think you’re seeing something like a $25 billion USD volume occurring on an annual basis out of the UAE. That’s quite significant. I think it points to the fact that the region is ready and they’ve been waiting for a regulated offering like ours,” says Kraken Managing Director Curtis Ting

Have a prosperous day, Keep the Faith!

TAGGED:binance crypto exchange exchanUAE Gu Kraken UAE

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By Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.