Coinbase obtains Abu Dhabi license for tokenized securities business

Coinbase obtains Abu Dhabi license for tokenized securities business Coinbase said it has obtained a financial services permission from the Financial Services Regulatory Authority under Abu Dhabi Global Market, allowing it to provide investment-dealing intermediation and custody services. Based on the license, Coinbase plans to build an offshore securities token hub in Abu Dhabi and pursue the launch of tokenized stocks. Securities tokens registered and issued in ADGM are to be fully backed by actual shares, while verified token holders have shareholder rights including dividends and voting rights. Investors can use the service with only a wallet, without a brokerage account or correspondent bank, and all transfers are subject to sanctions screening. Where required by regulation, assets can be frozen or seized at the wallet level.