Payward, the parent company of Kraken, has received Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA) for its subsidiary Payward FZCO. The approval, granted on October 12, 2026, clears the exchange to begin serving clients in the United Arab Emirates in the coming weeks.
Launch Services and Capabilities
At launch, UAE clients will have access to spot trading, margin trading, and on-chain staking. Spot trading allows users to buy and sell assets outright, while margin trading enables borrowing to increase position size. Clients will be able to trade pairs denominated in AED, the UAE dirham, and fund or withdraw accounts directly through Kraken's local entity.
The Virtual Asset Service Provider license covers retail, professional, and institutional clients from the outset.
Institutional Offerings
Institutional clients will have access to over-the-counter (OTC) trading and advanced services through Kraken Prime. OTC desks handle large trades privately, allowing significant orders to be executed without affecting market prices. These institutional clients will access liquidity from Kraken's global order books spanning Europe, the US, and the APAC region.
Future Expansion Plans
Payward plans to roll out additional offerings, including derivatives and yield products, through 2026 and 2027, pending further regulatory approvals from VARA. The company received preliminary approval from the authority on May 21, 2026, approximately five months before receiving full approval.
Payward already holds more than 100 licenses globally, with the UAE now joining its regulatory portfolio.
