Coinbase Global (COIN) has received a financial services permission from the Financial Services Regulatory Authority to establish its international tokenization hub in ADGM, the international financial center of Abu Dhabi, ADGM said Thursday.

The tokenized securities registered and issued in ADGM are fully backed by underlying shares under the supervision of the FSRA and are verified by token holders, who get full shareholder rights, including dividends and voting, ADGM said.