Kraken Parent Payward Secures Full Dubai License for UAE Crypto Launch

Payward, the parent company of cryptocurrency exchange Kraken, has secured full regulatory approval in Dubai, clearing the way for its expansion into the United Arab Emirates. The authorization from Dubai’s Virtual Assets Regulatory Authority (VARA) allows its local subsidiary to provide regulated cryptocurrency services to retail, professional, and institutional customers.

The approval completes a licensing process that began with preliminary regulatory clearance in May 2026. Payward can now prepare to launch its UAE operations, with the company targeting the coming weeks for the rollout.

The move strengthens Kraken’s presence in the Middle East as competition among cryptocurrency platforms intensifies. It also gives UAE customers access to trading services connected to Kraken’s global liquidity network.

Dubai License Opens Door to Local Crypto Trading

Under the authorization, Kraken plans to offer spot and margin trading through UAE dirham-denominated cryptocurrency pairs. Customers will also be able to deposit and withdraw dirhams directly, providing a local funding option for accessing digital asset markets.

The initial offering will include several services designed for different customer segments. These include:

• Spot and margin cryptocurrency trading using UAE dirhams.
• Onchain staking services for eligible digital assets.
• Over-the-counter trading for larger transactions.
• Institutional services through Kraken Prime.
• Crypto transfers between users through Krak.
• Access to tokenized equities through the xStocks platform.

The availability of individual products will depend on applicable regulatory conditions. Furthermore, retail customers may face different product restrictions than professional and institutional investors.

Payward’s local subsidiary will operate within Dubai’s regulatory framework, bringing its UAE activities under the supervision of VARA.

Further Expansion Depends on Regulatory Approval

Payward’s UAE expansion follows Dubai’s broader effort to establish a regulated environment for digital asset businesses. The emirate has introduced a dedicated licensing framework for virtual asset service providers, creating a formal pathway for exchanges and other crypto companies to serve local customers.

For Kraken, the license provides an opportunity to compete for retail trading activity and institutional business in a market that continues to attract digital asset firms.

The company also plans to broaden its UAE product range over time. Crypto derivatives and additional yield-related products could follow in late 2026 and 2027, subject to further regulatory approval.

However, the license does not eliminate the financial risks associated with cryptocurrency trading. Digital assets remain volatile, and customers must consider the potential for losses when using trading, staking, or other investment services.

Payward has said it holds more than 100 licenses and registrations worldwide, reflecting its strategy of expanding through regulated operations. Its Dubai approval adds another market to that international footprint and positions Kraken to establish a more direct relationship with customers across the UAE.