Kraken is now licensed in UAE to offer crypto trading

Global cryptocurrency exchange Kraken, through its parent company Payward, has received Full Market Approval from the Virtual Asset Regulatory Authority (VARA), allowing the firm to operate as a regulated Virtual Asset Service Provider (VASP) in Dubai and serve retail, professional, and institutional investors. The authorization covers Crypto broker dealer services and Management & Investment Services, representing the final stage of VARA’s licensing process.

The approval marks a significant milestone for Kraken’s expansion in the UAE and reinforces Dubai’s position as one of the world’s leading regulated digital asset hubs.

Under the new license, UAE-based clients will be able to trade spot and margin products with AED-denominated pairs while funding and withdrawing directly in UAE dirhams. Customers will also gain access to on-chain staking, tokenized stock offerings through xStocks, and Krak, the company’s crypto transfer platform. Institutional investors, meanwhile, will be able to access OTC spot trading and Kraken Prime services.

The launch follows a preliminary approval granted to Payward in May 2026, which allowed the company to complete its operational setup ahead of onboarding clients. Full Market Approval now enables the company to begin regulated operations in Dubai.

“From launch, clients in the UAE get the same order book and multi-asset coverage we run in every other market, under one of the clearest regulatory frameworks in the world,” said Arjun Sethi, Co-CEO of Payward and Kraken.

“Payward’s regulatory infrastructure now connects them directly to Kraken’s market-leading liquidity, along with a growing range of opportunities across digital assets.”

The approval also signals Kraken’s return to major growth efforts in the UAE. The exchange was among the earliest global crypto firms to establish a regulated presence in the country after securing approval in Abu Dhabi Global Market (ADGM) in 2022 and becoming the first international exchange to offer UAE dirham trading pairs. Although Kraken later reduced parts of its Middle East operations during a broader corporate restructuring, the company has continued to view the UAE as a strategic market due to its regulatory clarity and growing institutional adoption of digital assets.

Looking ahead, Payward plans to introduce additional regulated offerings in the UAE, including crypto derivatives and a wider range of yield-generating products, subject to regulatory approval. The company also intends to make its infrastructure available to regional partners through embedded trading-as-a-service solutions.

The UAE launch forms part of Payward’s broader strategy to build regulated, on-the-ground operations across key financial centres globally. The company says it now holds more than 100 licences and registrations worldwide spanning Europe, the Americas, Asia-Pacific, and the Middle East.

Kraken’s arrival as a fully licensed VARA-regulated operator comes as Dubai continues to attract leading digital asset firms seeking certainty in an increasingly fragmented global regulatory landscape.

With direct AED on- and off-ramps, institutional-grade trading infrastructure, and a growing suite of digital asset products, Kraken is positioning itself to compete for a larger share of the UAE’s rapidly expanding crypto and tokenized asset market.