Kraken Secures Regulatory Approval in Dubai for Virtual Asset Services

Virtual asset exchange Kraken has made significant progress in its regional expansion plans with the regulatory approval from Dubai's Virtual Asset Regulatory Authority (VARA).

The authority granted Payward, Kraken's parent company, preliminary broker-dealer and investment management authorization to launch regulated services in the UAE.

This milestone enables the platform to offer a range of services to both retail and professional investors in Dubai, including spot trading, margin trading, over-the-counter services, staking, crypto transfers, and its institutional platform, Kraken Prime.

The company plans to expand its regional portfolio over time to include derivatives, lending, and new investment products tailored for qualified clients.