Kraken is preparing to launch in the UAE after its parent company, Payward, received Full Market Approval from Dubai’s Virtual Asset Regulatory Authority (VARA).

The exchange plans to begin serving UAE clients in the coming weeks.

This approval is the final stage of VARA’s licensing process. It permits Payward to operate as a regulated Virtual Asset Service Provider for retail, professional and institutional investors.

Payward first received preliminary approval from VARA in May 2026. That approval allowed the company to complete its operational preparations before onboarding clients.

At launch, clients in the UAE will be able to trade spot and margin using AED-denominated pairs. Funding and withdrawals will be available directly in dirhams.

Clients will also have access to on-chain staking, xStocks (tokenised US-listed equities) and the Krak app for crypto transfers.

For institutional investors, Kraken will provide over-the-counter (OTC) spot trading and its prime brokerage service, Kraken Prime.

Further products, including crypto derivatives and additional yield offerings, are expected later in 2026 and into 2027. These remain subject to regulatory approval.

Payward also intends to offer its infrastructure to regional partners through embedded trading as a service.

“From launch, clients in the UAE get the same order book and multi-asset coverage we run in every other market, under one of the clearest regulatory frameworks in the world,”

said Arjun Sethi, Co-CEO of Payward and Kraken.

The UAE launch forms part of Payward’s strategy to establish regulated local operations in major financial centres.

Kraken previously received a Financial Services Permission licence from Abu Dhabi Global Market (ADGM) in 2022.

Featured image: Edited by Fintech News UAE, based on image by Kraken via its website and kensing via Magnific.