Coinbase has secured Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market to arrange investment deals and provide custody as it builds Abu Dhabi into its main international hub for tokenized securities and on-chain capital markets outside the United States. The company said tokenized shares issued through ADGM would be backed one-for-one by underlying stock, with eligible verified holders able to receive rights such as dividends and voting, subject to prospectus terms and vesting conditions. Investors would hold the assets through compatible blockchain wallets rather than traditional brokerage accounts, although transfers would remain subject to sanctions screening and Coinbase could freeze or seize wallet assets when required by regulation. Coinbase has not said which shares it will tokenize first, which networks it will use, when the first offering will begin, or which jurisdictions will be eligible. Abu Dhabi will host the tokenization business while Dubai supports international derivatives, and any U.S. launch would still need to satisfy SEC rules.