Kraken set to operate crypto exchange in UAE

Kraken set to operate crypto exchange in UAE

Kraken is the first global virtual assets exchange group in the UAE to receive a full financial licence from the ADGM

Kraken Mena aims to provide access to virtual assets through regulated funding, trading, and custodial services in dirhams, UAE’s currency. — Supplied photo

Published: Mon 25 Apr 2022, 9:53 PM

Abu Dhabi Global Market (ADGM) on Monday said it has licenced the Kraken group to operate a regulated virtual asset exchange platform in the financial free zone.

“Kraken is the first global virtual assets exchange group in the UAE to receive a full financial licence from the ADGM,” it said.

UAE an innovative financial jurisdictions

Kraken Mena aims to provide access to virtual assets through regulated funding, trading, and custodial services in dirhams, UAE’s currency.

“The UAE is one of the most financially innovative jurisdictions in the world, with region-leading crypto participation rates by both consumer and professional investors. The ADGM and its financial regulator have been true pioneers for global crypto regulation,” said Curtis Ting, managing director of EMEA at Kraken.

“We are delighted to have received full approval, and to soon launch regulated AED markets that will sit adjacent to Kraken’s industry-leading ecosystem of crypto products, including staking, spot markets across 120+ crypto assets, regulated