Kraken Expands UAE Presence with VARA Authorization

Kraken has made significant strides in expanding its presence in the Middle East with the acquisition of regulatory authorization from Dubai's Virtual Assets Regulatory Authority (VARA). The company's parent entity, Payward FZCO, has been granted a license to operate under the broker-dealer, investment, and management category.

This milestone will allow Kraken to provide its UAE clients with access to a wider range of regional products, including spot trading, margin trading, over-the-counter (OTC) execution, staking, and peer-to-peer crypto transfers. The company's institutional-grade Kraken Prime platform will also be available to regional funds, market makers, proprietary trading firms, family offices, and high-net-worth clients.