Kraken, a leading cryptocurrency trading platform, has secured a major regulatory license from the Virtual Asset Regulatory Authority (VARA) in Dubai.
The license allows Payward, Kraken's parent company, to offer its services in Dubai, including spot trading, margin trading, and over-the-counter (OTC) services. This is expected to expand Kraken's presence in the region and provide UAE traders with access to deep liquidity and reliable execution across major markets.
As part of its plans to support local clients, Kraken has announced that it will roll out support for UAE dirham (AED) funding and withdrawals later this year. This will enable users to move funds directly between bank accounts and crypto markets without relying on foreign currencies.