US cryptocurrency exchange Coinbase has reported that the United Arab Emirates could become a strategic hub for the platform's overseas expansion.
According to blog post on the exchange's website:
"It further serves as a particularly strategic bridge between Asia and Europe - two of our existing focus international regions to date."
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The statements are planned to coincide with a visit by Coinbase CEO Brian Armstrong and other senior executives of the platform to the United Arab Emirates, during which they are expected to meet with local regulators.
The platform's CEO will also speak at the first fintech summit in Dubai.
He has stated:
"The UAE deserves a lot of credit for being forward thinking on crypto. First dedicated crypto regulator in the world, a clear rule book published (!), business friendly plus strong customer protections."