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Kraken Secures Full Market Approval from Dubai’s VARA for UAE Operations

Payward, the parent company of cryptocurrency exchange Kraken, has secured Full Market Approval from Dubai's Virtual Assets Regulatory Authority for its subsidiary Payward FZCO. The license permits the entity to operate as a regulated Virtual Asset Service Provider for retail, professional, and institutional clients. The platform will support AED-denominated pairs alongside direct dirham deposits and withdrawals.

Published Source: Business Wire
Issuing authority
Virtual Assets Regulatory Authority
Jurisdiction
Dubai, United Arab Emirates
Publication date
October 12, 2026
Stage
Final rule
Official source
www.businesswire.com
Illustration: Modern financial district in Dubai featuring high-rise commercial office towers and trading desks visible through glass windows at dusk,
Illustration

Payward, the parent company of cryptocurrency exchange Kraken, has received Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA) for its subsidiary Payward FZCO, according to Business Wire.

The regulatory license permits the entity to operate as an authorized Virtual Asset Service Provider (VASP). The scope of the approval covers broker-dealer, management, and investment services within the emirate.

Under the license, Kraken is cleared to serve retail, professional, and institutional clients across the United Arab Emirates with spot and margin trading capabilities. Platform users will be able to trade AED-denominated pairs alongside direct funding and withdrawals in UAE dirhams.

In addition, institutional clients will gain access to over-the-counter spot trading and the Kraken Prime suite as part of the company's rollout in the UAE market.

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