Kraken Secures Dubai Approval for Expanded UAE Crypto Services

Kraken has taken another step towards expanding its presence in the Middle East by securing preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer regulated crypto services in the United Arab Emirates.

The approval, which covers a broker dealer, investment, and management license, will allow Kraken to offer a broader range of products to UAE customers through a locally regulated subsidiary. These products include spot trading, margin trading, OTC trading, staking, crypto transfers through Krak, and Kraken Prime for institutional clients.

The company plans to provide local fiat on-ramp, giving users access to global crypto markets. This expansion is part of Kraken's broader push to build regulated operations in major financial centers.