Crypto exchange Kraken has wound down operations in its Abu Dhabi office after less than a year in the UAE. The exchange has also suspended support for transactions in the UAE Dirham currency. But its users in the region will still be able to access the platform with their balances automatically converted from Dirhams to US dollars, which can still be withdrawn alongside other fiat currencies it supports.

According to Bloomberg, the office closure is part of Kraken’s retrenchment plans announced last November that involve downsizing its global staff by almost a third. The US-based crypto exchange also laid off most of its team in the Middle East and North Africa (MENA), affecting about eight roles.

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