Kraken secured a crypto license in Abu Dhabi: Report

Reportedly Kraken exchange received regulatory approval from the regulatory body of Abudhabi, to operate crypto services.

Kraken is 4th-rankeded US-based crypto exchange and exchange provides services globally with an average of  $618,385,051 worth of 24 hours trade volume. Kraken exchange is known to provide services under compliance and also under its strict terms & conditions to make the services much better & enhance user experience.

On 25 April, Bloomberg reported that Kraken Exchange received regulatory approval from the regulatory body of Abudhabi to operate its crypto offerings in Abudhabi.

The report noted that the exchange established its regional headquarters in Abudhabi and also expects that its crypto services will be available for its clients in the next few months. Under the crypto license, the exchange will be allowed to provide its services for multi-million users in Abudhabi with all options like trade, deposit, and withdrawal. 

Around a week ago, the first ranked crypto exchange Binance received a crypto license from the watchdogs of Abudhabi, to make Abudhabi a leading digital assets hub in the Middle East. 

Since last few years government agencies from the Middle East showed huge effort toward this innovative crypto industry and the majority of the agencies aimed to bring blockchain and crypto, to their respective country, to make themself crypto leaders in not only the Middle East but also in the whole world.

Kraken exchange withdrawal of headquarter from San Francisco 

At the beginning of this month, the Kraken exchange announced that it will close its headquarter from San Francisco because of safety concerns. 

However not much was described as the main issues that the exchange was facing, but the majority of the reports claimed that many street criminals like activities remain active at night time, in San Francisco.

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