Payward, the parent company of cryptocurrency exchange Kraken, has received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA). Payward had received preliminary approval from VARA in May 2026. The latest Full Market Approval is the final stage of the licensing process. The full approval has now cleared the way for the company to launch regulated crypto services in the United Arab Emirates.

The approval authorizes Payward FZCO to operate as a regulated Virtual Asset Service Provider (VASP) under broker-dealer, investment, and management categories. The license covers retail, professional and institutional clients. The exchange is eager to launch regulated services in the respective region and plans to launch in the coming weeks.

Kraken to Offer AED Trading and Crypto Services

UAE users will now be able to access spot and margin trading with UAE dirham (AED) linked pairs. Moreover, direct AED deposits and withdrawals will also b available.

The initial offerings may include on-chain staking, tokenized stocks through xStocks, and crypto transfers through Krak. Institutional clients will additionally gain access to over-the-counter (OTC) spot trading via Kraken Prime. Payward plans to introduce crypto derivatives and expanded yield products later in 2027 (subject to further regulatory approval).

VARA Approval Clears Path for Kraken’s UAE Launch

As per the announcement, Payward now holds more than 100 licenses and registrations worldwide. Its UAE expansion reflects a broader strategy to establish regulated operations in key financial markets.

The planned UAE launch will connect local customers with Kraken’s global liquidity. It is already providing services in Europe, the United States, and Asia-Pacific markets.

The approval from UAE adds Kraken to the group of cryptocurrency platforms seeking to serve the UAE market. With AED trading, local currency transfers, and institutional services the exchange is a good entry to the market.