Kraken’s parent company Payward has secured full market approval from Dubai’s Virtual Asset Regulatory Authority (VARA), allowing it to operate as a regulated virtual asset service provider in the United Arab Emirates. At launch, Kraken clients in the UAE will be able to trade spot and margin with dirham-denominated pairs and fund or withdraw directly in dirhams, with access to on-chain staking, xStocks tokenized equities and Krak for crypto transfers, while institutional clients gain OTC spot trading and Kraken Prime. Payward, which holds over 100 licenses worldwide, raised $100 million from Nasdaq in September, valuing the company at $21 billion.
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