Kraken Secures Full Dubai VARA Approval Through Payward Ahead of UAE Launch

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Highlights

Kraken secures full Dubai VARA approval through Payward, preparing to launch UAE crypto trading services.
UAE clients will access AED trading, staking, tokenized stocks, and direct dirham deposits and withdrawals.
Kraken plans crypto derivatives and additional yield products through 2027, pending further regulatory approval processes.

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Kraken has entered Dubai’s regulated crypto market with its parent company Payward gaining full VARA approval, allowing for the UAE’s investors to access cryptoccurrency trading services over the coming weeks.

Kraken Receives Full VARA Approval for UAE Market Entry

On October 12, Payward received the final regulatory clearance, Full Market Approval, from Dubai’s VARA to operate as a licensed Virtual Asset Service Provider in Dubai.

The authorization comes as part of the preliminary approval given in May of 2026, during which time the company was able to build the local infrastructure and prepare operations before welcoming customers.

With the licensing process complete, Kraken can proceed with its planned UAE launch and provide cryptocurrency trading services under Dubai’s regulatory framework.

The parent company of the exchange currently has over 100 licenses and registrations in the financial markets of Europe, the Americas, Asia-Pacific and the Middle East.

Kraken Plans AED Trading, Staking and Tokenized Stocks

Kraken will launch spot and margin trading pairs in AED, supporting the UAE market with direct deposits and withdrawals in local currency.

In addition to these services, customers will be able to access onchain staking, tokenized equities on xStocks, and cryptocurrency transfers with Krak. Institutional clients will also receive access to OTC spot trading and Kraken Prime.

Arjun Sethi, co-CEO of Payward and Kraken, said the UAE customers would use the exchange’s existing trading infrastructure.

From launch, clients in the UAE will have the same order book and multi-asset coverage across all markets, in one of the clearest regulatory frameworks in the world, Sethi said.

Meanwhile,Payward also expects to launch derivatives of cryptocurrency and other yield products later this year and into 2027, pending additional regulatory clearance.

Kraken Joins Other Crypto Exchanges Operating in Dubai

Kraken’s announced launch follows that of several large cryptocurrency exchanges obtaining licenses in Dubai and across the UAE.

Binance was granted its full Dubai license in April 2024 and Crypto.com’s Dubai branch was given permission for exchange and broker-dealer operations in November 2023.

In addition, Bybit revealed that the platform received a platform operator’s license from the federal Securities and Commodities Authority of the UAE in October 2025.

Payward plans to provide financial partners with trading infrastructure besides its planned exchange launch, so that companies can integrate its services into their current platforms.

For more insights, explore the top perpetual futures trading platforms to compare options available to traders worldwide.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.