Payward Secures VARA Authorization in UAE, Strengthening Kraken’s Regional Presence
CHEYENNE, Wyo. — Payward, the parent company of Kraken, has announced its expansion into the United Arab Emirates (UAE) following the receipt of preliminary approval for a broker-dealer, investment, and management license from the Virtual Asset Regulatory Authority (VARA) in Dubai. This development marks a significant milestone for Kraken, one of the world’s most established and liquid cryptocurrency platforms, allowing it to offer a comprehensive suite of services in Dubai.
Regulatory Approval and Service Offerings
With the VARA authorization, Kraken is set to provide a full range of services, including spot, margin, and over-the-counter (OTC) trading, staking, and access to Kraken Prime for institutional clients. Additionally, users will be able to conduct crypto transfers through the Krak platform. This regulatory green light enables UAE traders to tap into Kraken’s global order books, which are known for their deep liquidity and reliable execution across major markets in Europe, the United States, and the Asia-Pacific region.
Clients will also benefit from the ability to fund and withdraw in dirhams (AED) through a locally regulated Payward subsidiary, facilitating secure and seamless access to global cryptocurrency markets.
Insights from Payward Leadership
Arjun Sethi, Co-CEO of Payward and Kraken, emphasized the significance of Dubai’s proactive regulatory framework. He stated that Dubai established a comprehensive rulebook for cryptocurrency before many other jurisdictions recognized the asset class. This clarity has attracted real liquidity and institutional capital to the UAE. Sethi noted that operating under VARA allows Kraken to serve clients through a local, supervised entity rather than from offshore.
This expansion aligns with Payward’s broader strategy to establish regulated operations in key financial hubs worldwide. By integrating new markets into its core trading network, Kraken aims to provide clients with premium execution, deep liquidity, and a consistently high standard of service.
Future Product Offerings in the UAE
Kraken plans to introduce its Buy, Trade, and Earn products in the UAE, offering direct access to spot trading and staking, contingent upon regulatory approval. Over time, the platform intends to expand its offerings to include derivatives, lending, and new investment products tailored for qualified clients.
About Payward
Payward, Inc. serves as a unified financial infrastructure platform that supports a range of products aimed at advancing a global financial system. Built on a single shared architecture, Payward enables customers to hold, trade, earn, pay, and invest across various asset classes without friction or fragmentation.
The company provides the foundational infrastructure for Kraken and a growing suite of purpose-built products, including NinjaTrader, Breakout, xStocks, and CF Benchmarks. Payward’s architecture separates infrastructure from product expression, allowing each product to cater to specific customer segments, regulatory frameworks, and use cases while operating on a unified global foundation.
About Kraken
Founded in 2011, Kraken is recognized as one of the longest-standing and most secure cryptocurrency platforms globally. The platform supports trading in over 600 digital assets, as well as traditional assets like U.S. futures and stocks, across six national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Trusted by millions of institutions, professional traders, and consumers, Kraken is known for its speed, liquidity, and performance.
Kraken’s diverse suite of products includes the Kraken App, Kraken Pro, the Krak App, Kraken Institutional, and various on-chain offerings. Clients can engage in buying, selling, staking, earning rewards, sending and receiving assets, and accessing advanced trading tools.
Kraken has set a high standard for transparency and client trust, being the first cryptocurrency platform to conduct Proof of Reserves. The company adheres to applicable regulations while prioritizing client privacy and security.
Regulatory Disclosure
Payward FZCO is licensed by VARA as a Virtual Asset Service Provider (VASP) under the Broker-Dealer / Investment and Management license category. This authorization permits the provision of virtual asset services to both retail and professional investors in Dubai, subject to VARA’s regulatory framework.
Services available to retail clients are limited to those expressly permitted under VARA’s retail-access rules and may differ from offerings available to professional clients. Virtual assets carry inherent risks and may lose value. Retail clients are advised to review applicable risk disclosures carefully.
This announcement does not constitute an offer or investment advice. Product availability is subject to local regulatory approval and may vary by jurisdiction. For full regulatory status and client categorization details, visit the official Kraken disclosures page.
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Published on 2026-05-21 18:58:00 • By the Editorial Desk
