As per Bloomberg Kraken, crypto exchange based out of Abu Dhabi UAE has closed its office  while Chainalysis lays off 4.8 percent of its global workforce, but continues to hire in the MENA region. Kraken has closed its   third office in less than a year. The first one was its headquarters in San Francisco, then Japan and now UAE. Kraken had received a full license to operate in the UAE in April 2022.   With these closures have come layoffs. Kraken announced back in November 2022 that it would be laying off 30 percent of its workforce, equivalent to 1,100 employees. As per Bloomberg, Kraken laid off the majority of its team in the MENA region, a total of 8 people. Benjamin Ampen, managing director for the region, will stay with the firm. On the Abu Dhabi market registry, Kraken is no longer listed as an active exchange. In addition the exchange has suspended support for transactions in the AED, but clients in the region will still be able to use ot...

  UAE RAK Bank has partnered with Kraken crypto asset exchange to offer virtual assets trading in AED using their local bank account. As regulated by the Central Bank of UAE, RAKBANK will enable Kraken, which is licensed by Abu Dhabi Global Market (ADGM), to have their UAE-based clients fund their crypto account through local fund transfers from any bank in the UAE.   Kraken was the first global exchange to have received a full license to operate a regulated virtual asset exchange platform in the Abu Dhabi Global Market (ADGM). Currently, UAE residents who trade virtual assets must use banks or foreign correspondents outside the UAE to fund their trading. As a result, they incur high foreign exchange costs and fees, experience long lead times (more than 24 hours) and are subject to overseas-jurisdiction asset governance. Through this innovative solution, UAE residents will be able to fund their account faster and at lesser costs, all while remaining within the UAE’s juris...