Saudi Arabia · Abu Dhabi · Coinbase · United Arab Emirates · Fortune Technology
Coinbase establishes Abu Dhabi tokenization hub
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In a major coup for Abu Dhabi, crypto exchange giant Coinbase has chosen the emirate as its “international tokenization hub” as it looks to bring more traditional financial assets onto the blockchain.
Key facts
- The GCC electric vehicle market is valued at $11.64 billion and is projected to reach $31.66 billion by 2031, according to Mordor Intelligence
- The UAE is currently the Middle East’s largest market for EV sales, accounting for nearly 50% of total sales, according to the International Energy Agency’s Global EV Outlook 2026 report
- Between March and June, LNG loadings from Qatar and the UAE declined by 35 billion cubic meters year-on-year, according to the International Energy Agency
- Global consulting firm Kearney predicts that close to $500 billion of GCC assets will be represented on blockchain by 2030, led by private markets, funds, and bank deposits
Summary
And, the three things they enjoyed reading this week. Coinbase, the U.S.’s largest crypto exchange, will be based out of Abu Dhabi Global Marketplace (ADGM), from where it has been granted a license to arrange deals in investments and securely hold digital assets to facilitate the launch of tokenized securities. Investors will also be able to hold the assets in digital wallets, eliminating the need for a brokerage account or a correspondent banking relationship. “This is the most significant step we have taken yet toward building the infrastructure for a more open, more accessible global financial system,” the crypto exchange said announcing the decision last week.