Kraken's planned entry into the United Arab Emirates has moved a decisive step closer after Payward, the crypto exchange's parent company, received Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA) — the final stage of the emirate's licensing process for virtual asset firms.

The approval authorizes Payward to commence regulated activity in Dubai as a Virtual Asset Service Provider, clearing it to serve retail, professional, and institutional investors. Kraken said it expects to go live for UAE clients within the coming weeks, although no exact launch date was given. The announcement was made through a Business Wire release issued from Cheyenne, Wyoming, in which the company said it would begin regulated activity in Dubain

AED Trading, Staking and Tokenized Stocks Headline the Launch

The offering will center on spot and margin markets with AED-denominated pairs, and clients will be able to fund their accounts and withdraw directly in dirhams. Beyond trading, the platform will offer on-chain staking and tokenized stocks through xStocks, while the Krak app will also be available for crypto transfers. Together, these products sit alongside spot and margin trading in the launch lineup.

Institutional clients will receive an additional set of services at launch, including OTC spot trading and access to Kraken Prime, meaning the offering spans retail, professional, and institutional segments from day one. For UAE clients, the launch pairs local-currency funding with access to Kraken's existing global markets — the combination Sethi's remarks centered on.

Arjun Sethi, Co-CEO of Payward and Kraken, commented on the offering in a statement, saying clients get “the same order book and multi-asset coverage we run in every other market.” He added that this operates “under one of the clearest regulatory frameworks in the world.”

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

Final Stage of VARA's Licensing Process

VARA regulates virtual asset activity in Dubai, and Full Market Approval is the final stage of the authority's licensing process. It authorizes Payward to commence regulated activity in the emirate. The decision follows preliminary approval granted in May 2026, which allowed the company to complete its operational set-up ahead of client onboarding. With that groundwork finished, the Kraken UAE launch now has its final regulatory approval in place, leaving timing as the remaining step before clients can open accounts.

Derivatives and Yield Products on the Roadmap

A further wave of products is planned for later in 2026 and into 2027, following the initial launch. These include crypto derivatives and an expanded range of new yield opportunities, each of which remains subject to regulatory approval. Payward will also make its infrastructure available to regional partners through embedded trading as a service, an arrangement that lets partners offer trading directly inside their own platforms. The company did not provide product-specific dates in its announcement, and with each addition contingent on regulatory sign-off, the sequencing of that second wave will follow the approvals rather than a published schedule.

Part of a Global Build-Out

Payward describes itself as a unified financial infrastructure platform, and the Dubai launch forms part of its effort to build regulated, on-the-ground operations across key financial centers. Kraken connects new markets to its core trading network, which it says provides premium execution and deep liquidity, along with a consistent standard of service.

The company currently holds more than 100 licences and registrations worldwide, spanning Europe, the Americas, Asia-Pacific, and the Middle East. The next milestone to watch is the go-live itself, which the company has framed only as a window of the coming weeks.