Coinbase Supported Cryptocurrency Exchange Licensed From Abu Dhabi!

Cryptocurrency The latest move came from the crypto exchange Rain, as the exchanges continue to receive licenses from countries to legitimize their activities.

ReutersAccording to the news of Rain today Abu Dhabi obtained a license from its financial regulator to operate a digital asset brokerage and custody service for its clients in the UAE.

coinbase supported by Bahrain-based Rain, In a statement, he said that with the license obtained, its establishment located in the Abu Dhabi Global Market financial free zone will now offer the opportunity to buy, sell and store digital assets to institutional customers and some retail customers in the UAE.

Rain’s Chief Executive Officer, Joseph Dallago Stating that this license will lead to more demand from institutional investors, he made the following statements:

“We are incredibly proud to have obtained a Financial Services Authorization (FSP) from the Abu Dhabi Financial Services Regulatory Authority (FSRA) for a virtual asset brokerage and custody service business, a testament to our unwavering commitment to compliance and regulatory excellence.

This achievement represents an important milestone not only for Rain, but for the entire digital asset industry.

With this license, we are now able to offer even higher levels of security and trust to our customers, while continuing to drive innovation and growth in the digital assets space.

In addition, Rain now offers the only regulation in the UAE regulating the entry and exit of AED into digital assets.”

Arvind Ramamurthy, ADGM’s head of market development, said:With the inclusion of companies like Rain, we continually strive to add value to Abu Dhabi’s digital asset ecosystem. It also supports the diversification of our burgeoning economy.” said.

As it is known, the world’s largest cryptocurrency exchange Binance was also licensed in the country.

*Not investment advice.