Payward, the parent company of crypto exchange Kraken, has officially secured Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA). The license represents the highest authorization tier for virtual asset service providers in the United Arab Emirates (UAE), clearing the path for Kraken to onboard local clients.
The full approval concludes a regulatory process initiated in May 2026 through a preliminary authorization. Kraken is now authorized to serve retail investors, professional traders, and institutional clients across the UAE.
What sets Kraken’s move apart is not just local operating legality, but direct integration into the exchange’s global liquidity.
Single Order Book for Global Liquidity
Kraken has prepared an array of products with local currency support from day one. UAE users will be able to deposit and withdraw dirhams (AED), trade AED-paired spot and margin markets, engage in on-chain staking, purchase tokenized stocks (xStocks), and transfer crypto via Krak. Institutional clients gain access to OTC spot trading and Kraken Prime.
The exchange is not setting up a separate order pool for the UAE. Payward and Kraken co-CEO Arjun Sethi emphasized that UAE clients will enjoy the same order book and multi-asset depth as other markets. All transactions in Dubai will be matched against the same international market depth.
Further product rollouts are already on the roadmap. Payward plans to introduce crypto derivatives and additional yield products between late 2026 and 2027, subject to regulatory clearance. The company is also designing embedded trading solutions for regional partners looking to integrate Kraken features into their platforms.
Nasdaq Backing and Launch Date Questions
The Middle East expansion is backed by substantial capital. In September 2026, Nasdaq invested $100 million into Payward at a $21 billion valuation to develop tokenized stocks and blockchain settlement infrastructure. Its xStocks product alone has processed over $42 billion in cumulative trading volume. Payward is also linked with Singapore Gulf Bank for 24/7 US dollar settlements catering to institutional clients across Asia and the Gulf.
While all regulatory licensing on paper is complete, Payward has yet to announce an exact date for when trading will officially open to the public.
For UAE market participants, the VARA license connects global order books directly to local dirham accounts. A confirmed launch date remains the sole detail awaited before initial trades officially begin.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
