Cryptocurrency exchange Kraken closed its Abu Dhabi office less than a year after obtaining a local license as part of its ongoing retrenchment efforts.
The company reportedly laid off most of its team focused on the Middle East and North Africa, affecting around eight employees.
The exchange also suspended support for transactions in UAE’s currency, the dirham, but clients in the region would still be able to use the platform by converting their deposits into dollars.
The crypto industry has been hit hard by …
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