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

#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!

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