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

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Last modified: 2022-04-28

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By Paul Ebeling · 2022-04-28
Tags: Shayne Heffernan on Investments, Luxury, UAE, exchange, Paul Ebeling, Crypto, Education, crypto, Bitcoin, Kraken, Ripple, Ethereum, binance, Knightsbridge Insights, Living, Dogecoin, Knightsbridge, SafeMoon, NFT, Featured
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#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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