Kraken prepares UAE launch after receiving full VARA approval

Payward, the parent company of Kraken, has received Full Market Approval from Dubai's Virtual Asset Regulatory Authority, clearing the way for the crypto platform to launch regulated services in the UAE. The approval allows Payward to operate as a regulated Virtual Asset Service Provider for retail, professional and institutional clients.

Full Market Approval is the final stage of VARA's licensing process and authorises regulated activity in Dubai. It follows preliminary approval granted in May 2026, which allowed Payward to complete its operational set-up before onboarding customers.

Kraken will launch with AED trading and local funding

At launch, UAE clients will be able to trade spot and margin products using AED-denominated pairs. They will also be able to deposit and withdraw directly in dirhams.

The initial offering will include on-chain staking, xStocks and Krak for crypto transfers. Institutional clients will gain access to OTC spot trading and Kraken Prime.

Local currency funding and AED trading pairs allow users to move funds in and out of the platform without converting through another currency.

Derivatives and additional yield products are planned

Payward plans to add further products later in 2026 and during 2027, subject to regulatory approval. These are expected to include crypto derivatives and a broader range of yield opportunities.

The company also plans to offer its infrastructure to regional partners through embedded trading as a service. This would allow other firms to provide trading services to their own customers using Payward's technology.

UAE clients will connect to Kraken's global liquidity

Arjun Sethi, Co-CEO of Payward and Kraken, said UAE clients will have access from launch to the same order book and multi-asset coverage available in Kraken's other markets. Payward's regulatory infrastructure is designed to connect local clients directly to Kraken's liquidity and digital asset offering.

The UAE launch forms part of Payward's strategy of building regulated operations in major financial centres. The company currently holds more than 100 licences and registrations across Europe, the Americas, Asia-Pacific and the Middle East.

Payward operates a shared global infrastructure

Payward provides the infrastructure behind Kraken and other products including NinjaTrader, Breakout, xStocks and CF Benchmarks. These businesses operate on a shared architecture covering liquidity, risk, margin, collateral, settlement and compliance.

The model includes a single global liquidity pool, a unified risk and margin engine, one collateral and settlement system and one compliance and licensing framework. This allows the UAE operation to connect directly to Payward's core trading network instead of functioning as a separate local venue.

As a result, Kraken can provide UAE clients with access to the same order book used across its other regulated markets.