Kraken shuts down Abu Dhabi office: Report

Cryptocurrency exchange Kraken has reportedly closed its office in Abu Dhabi less than 12 months after receiving regulatory approval to operate in the region.

According to a Feb. 2 report from Bloomberg, Kraken shut down its Abu Dhabi office, laying off roughly eight people on the team focused on the Middle East and North Africa, or MENA. The exchange had been licensed to offer services in the Abu Dhabi international financial center and Abu Dhabi Global Market since April 2022 — prior to the market downturn affecting many crypto firms.

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