Coinbase Cryptocurrency is considering adopting the UAE as an international hub for its operations

The UAE is strategically located to allow Coinbase to serve the region's markets. Archival

Cryptocurrency exchange Coinbase Global is considering establishing a global hub in the UAE that will serve its operations in international markets. CoinPeace Global CEO Brian Armstrong said in an interview with Bloomberg that "the exchange is currently looking for a home to establish an international center capable of meeting the needs of a long list of countries around the world." Armstrong added that the UAE is strategically located to allow Coinbase Global to expand and serve markets in the Middle East, Africa and Asia. During his participation yesterday, in a panel discussion during the Dubai FinTech Summit 2023, Armstrong said that "the UAE is a leading country in the crypto sector in the region, and therefore, it can be a potential international hub." The company added in a blog post that this region serves as a strategic bridge between the regions of Asia and Europe that it currently focuses on.

Armstrong pointed to the UAE's regulators ahead of their U.S. counterparts, saying, "I would say the UAE's approach reflects more advanced thinking than in the US." He added that he met with officials from Abu Dhabi Global Market and the Virtual Assets Regulatory Authority (VRA) regulators in Abu Dhabi and Dubai respectively.

Coinbase will engage with policymakers, regulators, partners, Web 3 and cryptocurrency founders and customers amid the rapid adoption of cryptocurrencies and Web3 in the country. The UAE is also a major hub in the Middle East, Africa and India region where more than 11% of the population owns cryptocurrencies.