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Crypto exchange Kraken is to launch in the UAE, having become the first global virtual assets exchange to be granted a full financial licence by Abu Dhabi Global Market (ADGM).
Kraken MENA said it is establishing its first headquarters in the region at ADGM, the capital’s international financial centre, adding that it will be the first to offer investors the ability to invest, trade, withdraw and deposit virtual assets such as Bitcoin and Ether directly in UAE dirhams.
Kraken, co-founded by CEO Jesse Powell in in 2011 in San Francisco, USA, trades 100 crypto assets in seven fiat currencies, with the UAE’s dirham the latest to be added.
Its backers include Tribe Capital, SkyBridge, Hummingbird Ventures, Blockchain Capital and Digital Currency Group.
(Writing by Imogen Lillywhite; editing by Brinda Darasha)
