Kraken Expands Into the UAE After Clearing Dubai’s Final Regulatory Hurdle

Kraken is gearing up to launch its crypto services in the United Arab Emirates after receiving full market approval from Dubai’s Virtual Asset Regulatory Authority (VARA). The approval clears the way for its parent company, Payward, to operate as a regulated virtual asset service provider in Dubai. The company will be able to serve retail, professional, and institutional investors in the region. Initially, UAE customers will get access to spot and margin trading, with trading pairs denominated in the UAE dirham (AED). Users will also be able to deposit and withdraw funds directly in dirhams.