US Crypto Exchange “Kraken” Enters Middle East, Bitcoin Falls

Kraken, a US-based cryptocurrency exchange, has expanded into the Middle East and will open its regional headquarters in Abu Dhabi after securing a full license to operate a regulated trading platform in the United Arab Emirates ( United Arab Emirates), CNBC reported.

“We are incredibly excited to be able to set up our operations directly in the ADGM (Abu Dhabi Global Market) itself to operate a virtual asset platform that finally offers MAD pairs to investors in the region,” said Curtis Ting, chief executive of Kraken. for Europe, the Middle East and Africa, told CNBC.

Incidentally, with this development, Kraken will become the first cryptocurrency exchange to introduce direct funding and trading in the UAE for Bitcoin (BTC), Ether and a range of other virtual assets, after gaining regulatory approval from the UAE. ADGM and the Financial Services Regulatory Authority for its local launch.

Separately, Unicas, a crypto financial institution with physical branches, has announced the opening of a branch in Janakpuri, New Delhi. Unicas has created a unique solution platform for investing, earning and borrowing cryptocurrencies. Earlier, they launched a branch at Connaught Place in central Delhi in February. The brand is now expanding into other parts of the capital, starting with the new Janakpuri branch.

Kumar Gaurav, Founder and CEO of Cashaa, a crypto bank, says, “Contrary to popular speculation regarding crypto, we have witnessed a nice response for physical branches. We noted how it helped us facilitate technology and innovation awareness, as well as introduce the best banking infrastructure. We aspire to move forward in this direction, and the new branch is a step in the same direction.

Crypto prices

The price of Bitcoin in the cryptocurrency market fell 2.94% in the past 24 hours, and it was trading at $38,661.16 as of 4:45 PM IST. Its dominance in the crypto market is currently at 41.27%, up 0.32% in the last 24 hours, according to Coinmarketcap.com.

In the past 24 hours, Ethereum (ETH) was trading at $2,838.43, down 3.63%, while Binance Coin (BNB) fell 3.23% over the same period and traded at $389.71. Solana (SOL) was down 5.53% at $96.05, while Cardano (ADA) was down 4.58% at $0.8508.

meme pieces

Among meme coins, Dogecoin was down 4.24% and was trading at $0.1285 as of 4:45 p.m. on Coinmarketcap.com. Its rival, Shiba Inu, was down 4.63% and it was trading at $0.00002305. Samoyedcoin was down 7.71% and trading at $0.01657, while Dogelon Mars was down 7.71% and trading at $0.0000009612.

Overall scenario

According to Coinmarketcap.com, the global crypto market capitalization was $1.78 trillion, down 3.69% in the last 24 hours, while the total crypto market volume was 76, $88 billion, up 51.42%.

ELON BUYS TWITTER (EBT) became the biggest gainer, rising 1,831.75%. It was trading at $0.0000005107 as of 4:45 p.m., according to Coinmarketcap. In contrast, Seesaw (SSW) recorded the maximum loss, dropping 95.39%. It was trading at $0.01407.

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US Crypto Exchange “Kraken” Enters Middle East, Bitcoin Falls


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