UAE: Coinbase Execs Visit To Test Potential Of “Strategic Hub” For International Operations

UAE: Coinbase Execs Visit To Test Potential Of “Strategic Hub” For International Operations

Following United States-based crypto exchange Coinbase announcing the launch of its global derivatives platform, key executives at the firm are meeting with industry leaders and policymakers in the United Arab Emirates.

In a blog post, Coinbase said CEO Brian Armstrong and some of the firm’s executive team planned to discuss the potential for the UAE “to be a strategic hub” for the crypto exchange. According to the company, it was working with regulators in the Abu Dhabi Global Market and Dubai’s Virtual Assets Regulatory Authority as part of efforts to potentially expand into the region.

On May 2, Coinbase announced the launch of the Coinbase International Exchange, a platform offering crypto derivatives trading. The launch came amid the U.S. Securities and Exchange Commission potentially charging Coinbase with securities violations following the issuance of a Wells notice in March. Though Armstrong has sometimes been critical of regulatory clarity affecting digital assets in the U.S., he told shareholders in a Q1 earnings call that he had no intention of moving operations outside the country.

Before its Wells notice, Coinbase officials, including Armstrong, had met with U.S. policymakers to discuss crypto regulations in the country. Chief legal officer Paul Grewal said the firm had meetings with