Abu Dhabi authorizes Coinbase tokenized securities operations
Coinbase shares jumped after Abu Dhabi Global Market regulators granted a financial services permission that allows Coinbase to operate a tokenization platform to facilitate transactions and custody for digital securities backed by traditional shares. The license permits economic participation through tokenized positions while voting rights will vary by offering and sanctions compliance checks will apply, and Coinbase can restrict or confiscate holdings when legally required. The clearance extends Project Diamond — which began with institutional debt products on Coinbase's Base chain and integrated Chainlink CCIP and USDC settlement — to equity-based securities, and Coinbase plans to split UAE operations between Abu Dhabi and Dubai.
Abu Dhabi licensed Coinbase to operate a tokenized securities platform.
Context
Abu Dhabi's ADGM gave Coinbase permission to run a tokenization platform. Coinbase built the system with Project Diamond and added Chainlink and USDC features. Next, Coinbase will use Abu Dhabi for tokenized securities and Dubai for…
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