Kraken Returns to the UAE, This Time Through Dubai’s Regulator

Kraken’s parent Payward has full VARA approval to serve clients in the UAE from Dubai. UAE customers will fund accounts in dirhams and trade on Kraken’s global order books. The exchange closed its Abu Dhabi office in 2023, so this is its second attempt in the country. Dubai’s licensed crypto field has grown fast, and banks are now competing for institutional business. Kraken’s parent company Payward has secured Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing its local subsidiary Payward FZCO to serve both retail and institutional clients in the United Arab Emirates once the rollout is…