Coinbase (COIN), a top US-based cryptocurrency exchange, announced Tuesday it has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the United Arab Emirates (UAE). The development is an integral part of the company’s tokenized securities goals in Abu Dhabi. Tokenized securities registered and issued within ADGM are fully collateralized by underlying shares and overseen by the FSRA. With tokenized securities, only a digital wallet is required. In addition to the tokenized securities and on-chain capital hub, Coinbase plans to establish a global center for derivatives as part of the company’s broader commitment to the UAE.