Cryptocurrency exchange Kraken has announced plans to open an office in Abu Dhabi after obtaining a license to operate a regulated trading platform in the UAE. It is reported by CNBC.

“We directly ADGM” said Curtis Ting, the company’s regional manager. EMEA.

Once approved, Kraken will offer users the ability to trade in dirhams as well as deposit/withdrawal options.

According to Chainalysis, the Middle East is one of the fastest growing crypto markets in the world, accounting for 7% of global trade volumes. From July 2020 to June 2021, the UAE ranked third in the region in this indicator, after Lebanon and Turkey.

In the spring of 2022, Bitcoin exchange Binance received in principle approval from ADGM to operate as a virtual asset broker-dealer.

Previously, the company held a license to provide cryptocurrency services in Dubai. More than 100 vacancies have been opened in the Emirate office following Binance.

Recall that in April Kraken’s decision to close the center in San Francisco due to the high level of crime became known.