Why Coinbase Went to Abu Dhabi… Full-Scale Crypto Finance | Seo Dong-ju, Kim Dong-hwan, Choi Yun-young, Hanwha Investment & Securities Team Leader

Why Coinbase Went to Abu Dhabi…Full-Scale Crypto Finance | Seo Dong-ju, Kim Dong-hwan, Choi Yun-young, Hanwha Investment & Securities Team Leader [Crypto PLUS]
Watch on YouTube ↗  |  August 14, 2026 at 03:22  |  27:03  |  3PRO TV (삼프로TV)
Speakers
Choi Yoon-young — Team Lead, Hanwha Investment & Securities
Seo Dong-ju — Host

Summary

The episode discusses Coinbase's expansion into Abu Dhabi's ADGM as a tokenized securities hub, detailing its brokerage and custody licenses and its focus on non-US investors. It also covers the SEC's first no-action letter for Franklin Templeton's Benji on-chain MMF, allowing its use for cash management and securities lending. The conversation highlights broader convergence between traditional finance and crypto through tokenized securities, RWA, and potential future AI compute-backed financial products.

  • Coinbase won ADGM licenses in Abu Dhabi for investment brokerage and custody.
  • Abu Dhabi's ADGM is a crypto-friendly financial free zone attracting firms after Singapore tightened retail rules.
  • Coinbase's tokenized stock plans emphasize 1:1 backing, dividend rights, and voting rights for non-US investors.
  • Franklin Templeton received the SEC's first no-action letter for its Benji on-chain MMF.
  • The no-action letter expands on-chain MMF usage into cash management and securities lending.
  • Broader RWA and tokenization adoption is accelerating across asset managers and banks.
  • The hosts flagged potential future AI compute power tokenization and financial stability risks.
Ideas
Choi Yoon-young Team Lead, Hanwha Investment & Securities 1:47
Coinbase expands tokenized securities abroad.
Coinbase obtained licenses in Abu Dhabi Global Market (ADGM) for investment brokerage/dealing and custody, part of an Abu Dhabi tokenized securities hub. Abu Dhabi is a crypto-friendly financial free zone; after Singapore tightened retail protections, industry players expected businesses to shift there. The move is not a US retreat under the Trump administration but targets non-US investors in jurisdictions with clear rules, following Coinbase's July plan for 1:1 backed tokenized stocks with dividend and voting rights.
COIN HIGH
Choi Yoon-young Team Lead, Hanwha Investment & Securities 12:41
Franklin Templeton onchain MMF approval broadens RWA.
Franklin Templeton received the SEC's first no-action letter for its Benji on-chain MMF, allowing its own funds to use Benji for cash management and securities lending. The SEC eased traditional custody constraints for the on-chain version while adding supervision and private-key controls. This broadens on-chain MMF use cases and creates a reference case for other asset managers, supporting RWA/tokenization growth.
BEN HIGH
Choi Yoon-young Team Lead, Hanwha Investment & Securities 22:26
Traditional finance and crypto are converging.
Traditional finance and crypto are increasingly converging: Coinbase is expanding into tokenized securities and new products, asset managers are tokenizing MMFs, and deposit tokens/on-chain issuance by banks are emerging in regulated jurisdictions. The speaker expects these overlapping tokenization/RWA trends to continue, making the theme a growing area for investors.
RWA MED
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This 3PRO TV (삼프로TV) video, published August 14, 2026, features Choi Yoon-young discussing COIN, BEN, RWA. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Choi Yoon-young  · Tickers: COIN, BEN, RWA