Kraken Expands Presence in Dubai with Regulatory Approval
The Virtual Asset Regulatory Authority (VARA) in Dubai has granted a major regulatory license to Payward, the parent company of Kraken, a leading cryptocurrency trading platform. This development enables Kraken to offer its services to UAE clients and expands its presence in the global market.
With this license, Kraken can operate as a broker-dealer, investment, and management firm in Dubai, providing access to its broad range of crypto services, including spot trading, margin trading, over-the-counter (OTC) services, staking, and institutional access through Kraken Prime. The exchange's global order books will also be available to UAE traders, offering deep liquidity and reliable execution across major markets in Europe, the US, and APAC.
Kraken plans to roll out support for the UAE dirham (AED) funding and withdrawals later this year, enabling local clients to move funds directly between bank accounts and crypto markets without relying on foreign currencies. This will provide secure, frictionless access to global crypto markets through a trusted, regulated on-ramp.