Find out how Coinbase sees the UAE as a future crypto-currency hub in this detailed article. As an exchange and storage platform for virtual currencies such as Bitcoin, Ethereum and Litecoin, Coinbase UAE could play a key role in the future of crypto-currency in the region.
Coinbase is an online platform that offers both a digital wallet for storing virtual currencies and an exchange platform for buying, selling and storing various cryptocurrencies such as Bitcoin, Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash and many more.
Coinbase, a financial platform up and running in the UAE
In conflict with U.S. regulators, Coinbase wants to make the United Arab Emirates an international hub. It just so happens that the country is well positioned for the development of the Gulf, Asian and African markets. The UAE is leading the way when it comes to cryptocurrency.
Brian Armstrong, CEO of Coinbase, pointed out the ambiguity of the current U.S. regulations on cryptocurrencies. He also clarifies that his company will not leave the United States because the country is still an important point for this medium. The Emirates’ crypto-currency regulations are more advanced than those in the US.
The platform has faced very difficult regulations in the US, especially with the Securities and Exchange Commission putting pressure with the lawsuit of several companies in these sectors. Nevertheless, it has set up an international exchange with a Bermuda license, knowing that other companies are turning to foreign financial centers such as Hong Kong, Singapore or Dubai, destinations that are increasingly popular with investors.
Brian Armstrong, from IT to crypto
Brian Armstrong was born in January 1983 in San Jose, California, and graduated from Rice University with a degree in computer science and economics. He is the co-founder of the crypto company Coinbase in 2012, one of the largest platforms in the world to date.
But before founding his own company, he was a software engineer at Airbnb as well as another startup. Brian Armstrong has made his mark as he is now a recognized businessman and billionaire thanks to his business acumen.