Blockchain.com, a London-based cryptocurrency exchange, has been granted preliminary regulatory approval to operate in Dubai, according to a Friday report by Reuters.
The company signed a deal with Dubai's recently lunched crypto regulator Virtual Assets Regulatory Authority to open up an office in the region and start hiring an unidentified amount of staff, Reuters noted.
The move comes as a series of high-profile crypto firms recently expanded into the Gulf, namely OKX, Binance, Crypto.com and Sam Bankman Fried's FTX.
The United Arab Emirates' vision is to become a hub spot for the emerging blockchain space. Earlier this year, it planned to issued national crypto licensing.
Blockchain.com did not immediately respond to a request for comment by Seeking Alpha.
Previously, (July 21) Blockchain.com said to slash 25% of headcount.
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