US crypto exchange Kraken is expanding into the Middle East and is set to open its regional headquarters in Abu Dhabi after getting a full license to operate in the UAE.
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Kraken will be the first crypto exchange to provide direct funding and trading in UAE dirhams against Bitcoin, Ether, and other virtual assets.
Curtis Ting, managing director for Europe, the Middle East, and Africa, Kraken, stated that they were incredibly excited to establish operations in the Abu Dhabi Global market to operate a virtual asset platform that provides Dirham pairs for investors.
Ting further stated that it is essential to promote access to global markets and global liquidity by ascertaining that investors and traders will have access to local currencies.
Kraken stated the UAE launch signals a wider play into an increasingly lucrative market. The Middle East is one of the fastest-expanding crypto markets in the world.