Kraken... The first global platform for cryptocurrency trading in the Abu Dhabi Global Market
The Abu Dhabi Global Market announced the joining of the Kraken International Exchange to trade virtual assets.
Kraken is the first global cryptocurrency trading platform to obtain a full financial permit to engage in virtual asset trading services in the Abu Dhabi Global Market, to serve the needs of the Middle East and North Africa region.
Kraken has fulfilled all approval requirements from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, to now allow it to launch and operate its multilateral trading platform, and custodian services for assets deposited in UAE dirhams and virtual assets.
headquarters
Kraken has made its headquarters in Abu Dhabi Global Market in the Middle East, while its office is managed by a team of experienced senior executives to lead its business and plans in the UAE.
Kraken will be the first global exchange for virtual assets to be authorized in the UAE, as it will start providing its services to investors and the possibility of investing and trading, and withdrawing and depositing virtual assets directly in UAE dirhams.
Cryptocurrency
The managing director for Europe, Middle East and Africa at Kraken, Curtis Ting, said that the UAE is one of the most innovative regulatory authorities in the financial sector in the world, as the Abu Dhabi Global Market enjoys leading rates of participation in the field of cryptocurrency regulation at the level of the region, from The party of both consumers and specialized investors, stressing that the Abu Dhabi Global Market and its regulatory authority are among the pioneers in regulating the global digital currency markets.
He added: “We are pleased to receive full financial approval, and soon launch our regulated market to trade directly in UAE dirhams, within this leading regulatory environment for crypto products, which includes cryptocurrency trading and spot payment commodities markets across more than 120 regulated crypto assets and futures contracts. In the emerging market for non-fungible tokens, we are excited to expand our products and services in the MENA region in the coming months and years.”
Growth Opportunities
For his part, the CEO of the Abu Dhabi Global Market Registration Authority, Dhaher Bin Dhaher Al Muhairi, congratulated the Kraken team for obtaining the permission of the Financial Services Regulatory Authority in the Abu Dhabi Global Market.
He said that the Abu Dhabi Global Market is redoubling its efforts to accelerate new growth and investment opportunities provided by the virtual assets sector, in addition to supporting the efforts of financial sustainability and economic diversification of the Emirate of Abu Dhabi.
Al Muhairi added: “Regulating Kraken within our regulatory authority is a testament to the strength of our regulatory framework in the Abu Dhabi Global Market and the confidence of dealers in it, due to its proven track record in supporting the growth of local and global virtual asset trading and service providers, and we look forward to working closely with ( Kraken) to enhance market integrity and development, and contribute to the efforts to develop the comprehensive ecosystem of the financial market in Abu Dhabi and the UAE in general.
It is noteworthy that the Kraken Group was established in 2011, as the first global exchange to obtain a license to trade currencies, and provides its services to a customer base of more than nine million dealers in 60 countries.
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