The company is exploring the UAE transformative potential of the cryptoeconomy
The United Arab Emirates could become Coinbase’s new hub in realising its international expansion strategy.
“The country serves as a particularly strategic bridge between Asia and Europe – two of our existing focus international regions to date,” reads the company’s blog.
The statement comes amid Brian Armstrong’s, Coinbase CEO, and other top managers’ visit to the UAE, where they expect to meet local regulators and discuss potential co-operation. Armstrong will also take part in Dubai Fintech Summit as one of the key speakers.
“The UAE deserves a lot of credit for being forward thinking on crypto. First dedicated crypto regulator in the world, a clear rule book published (!), business friendly plus strong customer protections. Really enjoying my visit so far,” posted Armstrong in his Twitter account.
The visit coincides with a period of heightened tension between the exchange and SEC. In March, the US regulator forwarded a notice to Coinbase regarding investigation into the listing procedure and platform’s products – Coinbase Prime, Coinbase Wallet and Coinbase Earn staking service.
Coinbase argues the SEC is not providing sufficient regulatory guidance for US companies operating in the crypto sector. On 4 May the US Court ordered SEC to respond to Coinbase allegations within 10 days on how it applies securities laws to digital assets.