Kraken surfaces in Dubai after VARA gives Payward the full regulatory green light 🏝️

Kraken's parent company Payward has secured Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA), clearing the exchange to begin offering cryptocurrency trading services to UAE clients in the coming weeks. The final clearance was granted on October 12, following a preliminary approval issued in May 2026 that allowed Payward to build out local infrastructure in the interim.

With the licensing process complete, Kraken will operate in Dubai as a licensed Virtual Asset Service Provider under VARA's regulatory framework. Payward now holds more than 100 licenses and registrations across financial markets in Europe, the Americas, Asia-Pacific and the Middle East.

The planned UAE product lineup includes spot and margin trading pairs denominated in AED, along with direct dirham deposits and withdrawals, onchain staking, tokenized equities on xStocks, and cryptocurrency transfers via Krak. Institutional clients will also gain access to OTC spot trading and Kraken Prime. Arjun Sethi, co-CEO of Payward and Kraken, said the approval reflects the company's progress toward becoming one of the most licensed digital asset firms globally.

Looking ahead, Kraken has outlined plans to introduce crypto derivatives and additional yield products through 2027, subject to further regulatory approvals. The exchange will continue coordinating with VARA as it expands its service offering to retail and institutional users in the UAE.