Switch to seedless. Get 30% off with SWITCH30 till Oct 19Kraken gains Dubai VARA approval for UAE crypto launch
6.6 Regulation Kraken’s parent, Payward, gained full VARA approval, enabling Kraken to launch regulated crypto services in the UAE, including AED trading, staking, and institutional offerings.
Payward, the parent company of Kraken, has secured full market approval from Dubai's Virtual Assets Regulatory Authority (VARA), completing the final stage of the region's licensing process. This milestone allows Kraken to launch regulated virtual asset services in the United Arab Emirates (UAE) within weeks, catering to retail, professional, and institutional investors. At launch, Kraken will provide AED-denominated spot and margin trading, direct dirham deposits and withdrawals, onchain staking, tokenized stocks via xStocks, and crypto transfers. Institutional clients will benefit from OTC spot trading and Kraken Prime services. Looking ahead, Kraken plans to introduce crypto derivatives and additional yield products in late 2026 or 2027, pending further regulatory approvals. The license enables Kraken to market its platform directly to Dubai's retail traders, though VARA restricts retail clients to expressly permitted services. This approval positions Kraken competitively in the UAE's growing crypto market, alongside other major exchanges with regulatory clearance.
