Coinbase 'welcomed' to Abu Dhabi's Hub71, hinting at new base in UAE

DUBAI — Mubadala-backed Hub71, a technology startup ecosystem, is believed to have granted access to leading US cryptocurrency exchange Coinbase to set up an international hub in the United Arab Emirates (UAE) capital, Abu Dhabi, based on a tweet by Mubadala Capital’s head of ventures, Ibrahim Ajami, on Sunday.

At a Dubai-based tech event May 8, Coinbase CEO Brian Armstrong said that the UAE could serve as a hub for parts of the Middle East, North Africa and Asia.

Rudy Shoushany, founder and CEO of digital transformation talk show DxTalks, said the culmination of Coinbase’s recent UAE activity, eye on Hub71 investment and Ajami's tweet all indicate a deal has likely been finalized between the two entities. 

“Knowing all of that including [Ajami's] tweet seem to confirm that Coinbase is making a base or a regional headquarter there,” he said, although no official statement has been made by Hub71 or Coinbase.