The Abu Dhabi Global Market (ADGM) Monday said it granted a full license to the global cryptocurrency exchange, allowing it to service customers across the Middle East and North Africa region.
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- The license from the Financial Services Regulatory Authority (FSRA) of ADGM allows Kraken to provide virtual asset trading and custodial services in the local currency, the agency said on Monday.
- Through its hub in Abu Dhabi, the capital of the United Arab Emirates, Kraken will be able to service customers across the Middle East and North Africa region (MENA).
- The ADGM is the largest regulator of digital assets in MENA.
- The ADGM also granted in-principle approval to Binance, the world’s largest crypto exchange, earlier this month.
- The UAE has taken a proactive approach to cryptocurrency regulation in recent months, attracting global digital asset service providers, a senior Citi official told Forkast recently.
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