Payward Secures Full Dubai License for UAE Launch
Kraken's parent company Payward has obtained Full Market Approval from Dubai's VARA to launch crypto trading and financial services in the UAE.
Update (Oct 12, 10:03 UTC): Payward has received full market approval from Dubai’s VARA, building upon the preliminary status obtained in May.
Kraken’s parent company Payward has secured full regulatory approval in Dubai to launch cryptocurrency trading and financial services for retail, professional, and institutional customers in the United Arab Emirates. According to an announcement from Payward, Dubai’s Virtual Assets Regulatory Authority granted the company Full Market Approval, permitting it to operate as a regulated Virtual Asset Service Provider.
Instant Telegram notifications for large on-chain moves.
UAE Trading and Institutional Services
The approval follows preliminary clearance granted in May 2026. At launch, Kraken customers in the UAE will be able to deposit and withdraw funds directly in UAE dirhams, trading cryptocurrencies through spot and margin markets using AED-denominated pairs without prior conversion into another fiat currency.
Institutional investors will gain access to over-the-counter spot trading and Kraken Prime. Additional supported services at launch include on-chain staking, tokenized equities through xStocks, and crypto transfers using Krak. Payward plans to introduce cryptocurrency derivatives and additional yield products later in 2026 and 2027, subject to further regulatory approvals.
Global Regulatory Footprint
With this final regulatory clearance, Payward now holds more than 100 licenses and registrations worldwide. Co-CEO Arjun Sethi stated that clients in the UAE will access the same order book and multi-asset coverage available across the company's other international markets.
Key facts
- Payward received Full Market Approval from Dubai's VARA following preliminary clearance in May 2026.
- Services at launch include AED-denominated spot and margin trading, direct dirham deposits, and withdrawals.
- Institutional clients gain access to OTC spot trading and Kraken Prime.
- The platform will also support on-chain staking and tokenized equities via xStocks.
- Payward holds over 100 licenses and registrations globally.
Source: crypto.news
This article is for information only and is not investment advice. BullishMarketCap news is produced with AI assistance from public sources and reviewed by our editors; see our editorial policy. Spotted an error? Tell us.
