Kraken moves closer to UAE launch after Dubai regulatory approval

▤ Summary

Kraken's operator Payward received preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA) for broker-dealer, investment and management permissions, bringing the company closer to a UAE launch. At launch Kraken plans to support UAE dirham (AED) funding and offer margin and over-the-counter trading alongside institutional access via Kraken Prime. Payward says a full launch date is yet to be confirmed and frames the move as building on its 2022 approval to operate in the UAE under Abu Dhabi's framework. VARA's public register now lists 49 active crypto firms as Dubai pushes to become a regional hub for digital-asset businesses.

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