Kraken parent Payward receives Dubai approval for UAE crypto services

Payward, the parent company of cryptocurrency exchange Kraken, obtained Full Market Approval from Dubai's Virtual Assets Regulatory Authority on October 6, 2026, for its entity Payward FZCO. The virtual asset service provider license enables Kraken to launch dirham-denominated spot and margin trading, staking, and institutional Kraken Prime services in the UAE, while joining 58 licensed entities operating under Dubai's evolving crypto regime.

Payward receives Dubai regulatory approval

• ▪Payward FZCO's virtual asset service provider license from Dubai's Virtual Assets Regulatory Authority allows it to provide broker-dealer, investment, and management services to retail, professional, and institutional customers
• ▪Payward secured preliminary approval from Dubai's Virtual Assets Regulatory Authority for a broker-dealer, investment, and management license in May 2026 prior to obtaining full approval
• ▪Payward, the parent company of cryptocurrency exchange Kraken, received Full Market Approval from Dubai's Virtual Assets Regulatory Authority for its local entity Payward FZCO on October 6, 2026

Kraken services available at UAE launch

• ▪At launch in the United Arab Emirates, Kraken's platform will offer on-chain staking, xStocks, Krak crypto transfers, institutional over-the-counter spot trading, and Kraken Prime
• ▪Kraken will allow United Arab Emirates clients to conduct direct UAE dirham deposits and withdrawals and trade spot and margin products in dirham-denominated pairs at its planned launch following its Oct. 6 VARA approval

Debatable claims

• ▪Regulated crypto exchanges should restrict retail investors from margin trading
• ▪Dubai's VARA regulatory framework effectively balances crypto innovation and investor safety