- Payward received full approval from Dubai’s VARA for its local entity Payward FZCO.
- Kraken plans to launch AED spot and margin trading plus direct deposits and withdrawals in the coming weeks.
- VARA’s registry lists 58 licensed providers, up from 49 active companies in May 2026.
Kraken Dubai approval marks a new step for the exchange’s expansion in the United Arab Emirates after its parent company, Payward, received full market approval from Dubai’s Virtual Assets Regulatory Authority. The approval covers Payward FZCO and builds on a preliminary green light granted in May 2026. At launch, Kraken said clients in the UAE will be able to trade spot and margin pairs denominated in UAE dirham and use direct deposit withdrawals. The company announced the rollout on Monday and said it is targeting a launch in the coming weeks, adding another regulated crypto option in Dubai’s growing digital asset market.
Kraken Dubai approval opens local rollout
Payward, the parent company of cryptocurrency exchange Kraken, said it received approval from VARA for its local entity, Payward FZCO, to provide crypto services in Dubai. The company described this as full market approval, completing the process after receiving preliminary approval in May 2026.
According to VARA’s public register, Payward FZCO was issued a virtual asset service provider license on Oct. 6. The license allows the company to offer management and investment services, along with broker-dealer services. Payward also said the approval allows it to serve retail, professional and institutional investors.
What Kraken will offer in the UAE
At launch, Kraken’s clients in the UAE will have access to spot and margin trading in AED-denominated pairs. The company also said users will be able to make direct deposit withdrawals, tying the new service to local currency access rather than only crypto-to-crypto activity.
Payward announced the plan on Monday and said it is targeting launch in the coming weeks. The rollout is focused on the UAE market and follows the regulatory clearance from Dubai’s VARA, which oversees virtual asset activity in the emirate.
Kraken Dubai approval comes as Dubai market expands
Dubai’s VARA registry currently lists 58 licensed providers. That figure is up from 49 active companies in May 2026, showing an increase in the number of approved firms operating under the regulator’s framework.
The broader UAE market has also seen more activity from banks and brokers under other regulatory regimes. The source notes that crypto offerings are expanding beyond one authority, with different firms entering through separate licensing channels in the country.
Other UAE crypto moves in recent months
In September, Standard Chartered launched spot Bitcoin and Ether trading for institutional clients in the UAE through its Dubai International Financial Centre branch. That branch is regulated by the Dubai Financial Services Authority, highlighting another route for crypto services in the country.
In August, trading platform Capital.com revealed plans to offer spot crypto services to clients in the UAE. The move followed its affiliate, Capital Vault, securing a virtual-asset license from the country’s Capital Market Authority.
Conclusion
Kraken Dubai approval gives Payward the regulatory clearance to move ahead with a local crypto offering in the UAE through Payward FZCO. The approval follows preliminary authorization in May 2026 and now supports a planned launch in the coming weeks with AED spot and margin trading as well as direct deposit withdrawals. The development also comes as Dubai’s licensed provider count has increased and other firms, including Standard Chartered and Capital.com, have expanded or announced crypto services in the UAE. Taken together, the update shows continued growth in regulated digital asset activity across Dubai and the wider country.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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