According to CoinMeta, Coinbase has obtained permission from the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA) to establish an international tokenized assets center locally. This permission allows Coinbase to arrange investment transactions and manage tokenized securities. The company plans to launch digital securities backed by underlying stocks, which will be registered and issued in ADGM. The Abu Dhabi business will operate in parallel with Coinbase's derivatives business in Dubai, serving as an important base for expanding into markets outside of the United States.