Crypto
Home›Crypto›Regulation›Coinbase wins Abu Dhabi approval for custody and token…
Coinbase wins Abu Dhabi approval for custody and tokenized securities
The exchange said it received a Financial Services Permission from ADGM’s regulator to arrange investment deals and custody tokenized securities.
CoinDesk reports Coinbase has secured regulatory approval in Abu Dhabi to expand its tokenized asset business outside the U.S. The crypto exchange said it received a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
Under the license, Coinbase plans to arrange investment deals and provide custody for tokenized securities. It expects to issue and register digital securities backed by underlying shares under ADGM oversight, positioning them as securities, blockchain-native tokens, and DeFi-composable assets.
The company said the new Abu Dhabi operation builds on its existing UAE presence, including derivatives activities in Dubai and earlier tokenization efforts such as Project Diamond. Coinbase is also framing the move as part of Abu Dhabi’s push to become a test bed for tokenization, supported by ADGM’s virtual-asset regulatory framework introduced in 2018.
CoinDesk adds that broader tokenization interest is growing across traditional finance, with asset managers and banks exploring ways to place funds, bonds, private credit, and stocks on blockchain rails. Coinbase Institutional co-CEO Brett Tejpaul said no major financial center has yet built a framework that treats tokenized equities as securities, blockchain-native tokens, and DeFi-composable assets at the same time.