According to CoinMeta, Coinbase has announced that it has obtained permission from the Abu Dhabi Financial Services Authority to establish an international tokenization center in Abu Dhabi, which will support the issuance and custody of securities backed by underlying stocks. This center will enable Coinbase to enter the regulatory financial system of Abu Dhabi's global market (ADGM), and will build the infrastructure for the issuance of traditional assets on blockchain networks. Coinbase stated that the registered and issued securities will be backed by underlying stocks and will be regulated by FSRA. Investors will be able to hold these products in their digital wallets without the need to open traditional brokerage accounts. Coinbase also mentioned that transactions will undergo sanctions screening, and assets may be frozen or seized at the wallet level if necessary. Coinbase's tokenized securities and on-chain capital market operations will be centered in Abu Dhabi, while global derivatives business will also be developed in Dubai.