Crypto exchange Kraken has announced its expansion into the United Arab Emirates after its parent company Payward Inc was granted preliminary approval for a broker-dealer, investment and management license from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE.

With this regulatory go-ahead to offer a full range of services in Dubai, Kraken said that its UAE customers will have access to:

• Spot trading
• Margin trading
• OTC trading
• Staking
• Crypto transfers between users through Krak
• Kraken Prime (for institutional clients)

UAE traders will also gain access to global orderbooks, which have deep liquidity and reliable execution across major markets in Europe, the US, and APAC. Through a locally regulated Payward subsidiary, clients will also be able to fund and withdraw in dirhams (AED), providing secure, frictionless access to global crypto markets through a trusted, regulated on-ramp.

Arjun Sethi, Co-CEO of Payward and Kraken said,

“Dubai wrote a rulebook for crypto before most jurisdictions even acknowledged the asset class. That clarity is why real liquidity and institutional capital now sit in the UAE. Operating under VARA puts Kraken inside that perimeter, serving clients through a local, supervised entity rather than from offshore.”

The company said that this launch is part of its broader global growth strategy to establish regulated, on-the-ground operations in key financial centers. By connecting new markets to its core trading network, Kraken plans to give clients access to premium execution, deep liquidity and a consistent high standard of service worldwide.

“Clients in the UAE get the same order book, the same balance sheet, and the same multi-asset coverage we run in every other market,” Sethi continued. “The difference is that the rulebook is written down and the supervisor is local. That is what a license should mean.”

Kraken will introduce its Buy, Trade and Earn products to the UAE, offering direct access to spot trading and staking, subject to regulatory approval. Over time, Kraken plans to expand its offering to include derivatives, lending and new investment products for qualified clients.

Payward FZCO is licensed by the Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider (VASP) under [License Category: Broker-Dealer / Investment and Management, full license reference upon final issuance]. This authorization permits the provision of virtual asset services to both retail and professional investors in the Emirate of Dubai, subject to VARA’s regulatory framework and applicable conditions.

Services available to retail clients are limited to those expressly permitted for retail clients under VARA’s retail-access rules and may differ from products and services available to professional clients.