Coinbase’s Abu Dhabi Leap: Banking Goes Onchain

A New Financial Frontier

ABU DHABI, UAE — Coinbase has received a Financial Services Permission (FSP) from the FSRA to establish its international tokenization hub in ADGM, Abu Dhabi’s international financial centre.

This milestone clears Coinbase to arrange investment deals and provide custody for tokenized securities. Moreover, these assets remain fully backed by underlying shares under FSRA supervision, giving token holders shareholder rights, including dividends and voting.

Opening Capital Markets

Importantly, investors can participate with a wallet instead of a brokerage account or correspondent banking relationship. Meanwhile, ongoing sanctions screening helps protect regulatory integrity while supporting blockchain innovation.

Coinbase says the UAE can become home to the next generation of financial infrastructure. Consequently, its Abu Dhabi and Dubai investments position the company to expand tokenized securities, onchain capital markets, and derivatives globally.

Smart Shelves, Smarter Future: Alsaif Gallery’s AI Leap

Building a Smarter Foundation

Tencent Cloud, the cloud business of global technology company Tencent, is collaborating with Alsaif Gallery to advance enterprise AI transformation. Using local cloud infrastructure and AI capabilities in Saudi Arabia, the retailer deployed a self-developed enterprise AI agent platform.

Moreover, Tencent Cloud helps Alsaif Gallery improve efficiency, decision-making, and customer experiences while supporting data localization and compliance requirements.

AI That Works Across Business

The AI agent supports internal operations and customer-facing services across Alsaif Gallery’s omnichannel business. As a result, employees can work smarter while customers receive more personalized experiences.

Meanwhile, Tencent Cloud continues expanding its local cloud and AI capabilities, supporting Saudi Arabia’s digital economy and Vision 2030 goals. Together, the companies are turning AI into practical business value.

Riyadh’s New Luxury Landmark Takes Shape

A $186 Million Investment

Riyadh is welcoming another major investment as the Sports Boulevard Development Company partners with Rikaz Properties on a third real estate investment fund, valued at more than US$186 million (SAR 700 million).

The fund will finance a luxury five-star hotel in Urban Wadi, adding fresh energy to Saudi Arabia’s growing tourism and hospitality scene.

Building a Better Riyadh

Meanwhile, Sports Boulevard continues to support Saudi Vision 2030. Stretching more than 135 kilometres, the project connects sports, nature, culture, entertainment, and public spaces.

With Rikaz Properties as developer and investor and Al Jazira Capital as fund manager, the hotel will strengthen Urban Wadi’s lifestyle offering while creating new opportunities for residents and visitors.