Coinbase establishes Abu Dhabi tokenization hub

First publishedAug 19, 09:26 UTC

Last updatedAug 19, 12:09 UTC · 6m ago

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Fortune6Coinbase establishes Abu Dhabi tokenization hubAug 19, 09:26 UTCOpen ↗Fortune6How the UAE has emerged as a ‘leading light’ for tokenizationAug 19, 09:44 UTCOpen ↗

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Abu Dhabi’s bid to become a global hub for digital assets got a major boost last week when crypto exchange giant, Coinbase, announced it is establishing an international “tokenization hub” in the emirate. Based out of Abu Dhabi Global Market (ADGM), the emirate’s financial centre, Coinbase has been granted a license to arrange investment deals and provide custody for tokenized securities. Custody essentially means safely holding and managing the digital ownership records for assets and is therefore important for giving institutional investors confidence. Tokenization has been rapidly gaining momentum across traditional finance globally, with major asset managers and banks increasingly bringing funds, bonds, private credit and equities onto blockchain infrastructure.

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  FortuneAug 19, 09:44

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