Kraken's parent company Payward has obtained full market approval from Dubai's VARA, and plans to enter the UAE market.
41 minutes ago
Kraken parent company and integrated financial infrastructure platform Payward announced today that it plans to officially enter the UAE market after securing full market approval from the Dubai Virtual Assets Regulatory Authority (VARA). The approval allows Payward to operate as a regulated Virtual Asset Service Provider (VASP), serving retail, professional, and institutional investors. Upon the official launch of services, Kraken users in the UAE will be able to trade spot and margin pairs priced in UAE Dirhams (AED), as well as deposit and withdraw funds directly in Dirhams. Users will also have access to on-chain staking, xStocks, and Krak for crypto asset transfers; institutional clients can utilize over-the-counter (OTC) spot trading services and Kraken Prime. Subject to regulatory approval, Payward expects to roll out additional products between late 2026 and 2027, including crypto derivatives and expanded yield opportunities. Additionally, Payward will open up its infrastructure to regional partners via embedded trading services.
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