Dubai Regulator Grants Full Virtual Asset Licence to Kraken Parent Payward

Payward, the parent company of cryptocurrency exchange Kraken, has secured full regulatory approval from Dubai's Virtual Assets Regulatory Authority. The licence permits the platform to prepare services for retail, professional, and institutional investors in the UAE, including direct dirham trading and deposits. Payward expects to roll out local operations in the coming weeks following preliminary approval received in May.

Published October 13, 2026 Source: Analytics Insight

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中文 Chinese version
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Issuing authority: Virtual Assets Regulatory Authority
Jurisdiction: Dubai, United Arab Emirates
Publication date: October 12, 2026
Stage: Final rule
Official source: news.google.com

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Payward, the parent company of cryptocurrency exchange Kraken, has secured full regulatory approval from Dubai's Virtual Assets Regulatory Authority (VARA), according to Analytics Insight. Announced on Monday, October 12, 2026, the final approval follows preliminary clearance granted in May and clears regulatory requirements for the company's planned expansion into the United Arab Emirates.

The VARA approval allows Payward to prepare virtual asset services for retail, professional, and institutional clients under Dubai's regulatory framework. The firm expects to begin serving UAE customers in the coming weeks, although a formal launch date has not yet been announced.

Under the planned rollout, Kraken will offer trading pairs denominated in UAE dirhams (AED) across spot and margin markets, alongside direct AED deposits and withdrawals. Other planned offerings include on-chain staking, tokenized equities through xStocks, and cryptocurrency transfers via Krak, subject to applicable permissions.

Payward also plans to introduce cryptocurrency derivatives and additional yield products later in 2026 and into 2027, contingent upon separate regulatory approvals. The company reported holding more than 100 licences and registrations worldwide, while VARA continues to oversee digital-asset activities across Dubai outside the Dubai International Financial Centre.