Kraken closes its Abu Dhabi office, having obtained a business license there last April

ChainCatcher news, cryptocurrency exchange Kraken has recently closed its Abu Dhabi office as part of a global layoff plan, affecting about eight positions as the company laid off most of its team focused on the Middle East and North Africa. The exchange has suspended support for trading in the United Arab Emirates dirham, but customers can still use the platform.

A spokesperson stated that customer deposits denominated in dirhams will be automatically converted to US dollars and can then be withdrawn. Customers can also continue to use other fiat currencies supported by Kraken. Kraken plans to retain a few employees in the Middle East and North Africa.

Previous report mentioned that last April, Kraken obtained a cryptocurrency license at a registry in the Abu Dhabi Global Market. Like Coinbase, Kraken has also canceled its global expansion plans and closed its operations in Japan at the end of last month. (Bloomberg)