Coinbase May Turn UAE Into Company’s Strategic Hub

Coinbase is strengthening its ties with regulatory authorities in the United Arab Emirates (UAE) as it deals with growing issues in its home country, the US.

In a blog post on Sunday, Coinbase said that the UAE “has the potential to be a strategic hub for Coinbase, amplifying our efforts across the world” and can serve as a bridge between Asia and Europe — two of Coinbase’s existing international markets.

CEO and co-founder Brian Armstrong is in the UAE this week to meet with policymakers, regulators, crypto founders and clients, and to give a keynote address at the Dubai Fintech Summit.

Armstrong praised the UAE for its progressive regulatory approach to crypto on Twitter, saying the region “deserves a lot of credit for being forward thinking on crypto.”

He added that the UAE is the “first dedicated crypto regulator in the world” with a “clear rule book published” that is “business friendly plus strong customer protections.”