Coinbase chooses Abu Dhabi as global hub for tokenized securities

Coinbase has secured regulatory permission in Abu Dhabi to establish an international tokenization hub that will support the issuance and custody of securities backed by underlying shares. Summary Coinbase has chosen Abu Dhabi as its international hub for tokenized securities. ADGM has approved the exchange to arrange investment deals and provide custody services. The securities will be backed by underlying shares and can be held in digital wallets. The hub expands Coinbase’s existing Abu Dhabi operations, including Project Diamond. Kearney estimates tokenized GCC assets could approach $500 billion by 2030. Coinbase said the Financial Services Regulatory Authority of Abu Dhabi Global Market has granted it Financial Services Permission to arrange deals in investments and provide custody services for the planned tokenized securities business. The approval places the U.S. crypto exchange inside ADGM’s regulated financial system as it builds infrastructure for issuing traditional assets on blockchain networks. The securities registered and issued through the framework will be backed by underlying shares and supervised by the FSRA. Verified holders will receive economic rights tied to t...