Kraken Secures Preliminary Approval to Operate in UAE's Crypto Market

Kraken has made significant progress in its expansion plans by receiving preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA) to operate in the UAE.

The approval allows Kraken to offer dirham trading, margin access, and over-the-counter trading, which is expected to be a major boost for local investors who have faced high exchange costs and added friction when using foreign currencies.

Kraken Prime, a platform designed specifically for institutional investors, will also be available in Dubai. This platform offers tailored trading services, including OTC access, designed for professional and high-volume clients.