Key facts
- Payward FZCO, Kraken's parent company, received a full VASP license from Dubai's VARA on October 6.
- The license permits management, investment, and broker-dealer services for retail, professional, and institutional investors.
- Kraken clients in the UAE will have access to dirham-denominated spot and margin trading pairs.
- Direct deposit and withdrawal services in AED will be available.
- The company is targeting a launch in the coming weeks.
- VARA's registry lists 58 licensed providers.
Payward FZCO, the parent company of cryptocurrency exchange Kraken, has secured full market approval from Dubai's Virtual Assets Regulatory Authority (VARA) to expand its digital asset services in the United Arab Emirates. The company received its Virtual Asset Service Provider (VASP) license on October 6, enabling it to offer management and investment services, as well as broker-dealer services to retail, professional, and institutional investors.