Kraken Parent Wins VARA License, Paving Way for Dirham Trading
Summary
Payward, Kraken's parent, received VARA approval for its local entity Payward FZCO to offer crypto services in the UAE. The VASP license, issued Oct. 6, enables spot and margin trading in AED-denominated pairs, direct deposit withdrawals, and services for retail, professional, and institutional investors. Launch is targeted in the coming weeks. This follows preliminary approval in May 2026 and expands Kraken's regulated footprint in a market where licensed providers have grown from 49 to 58 since May. The move positions Kraken to capture UAE demand for dirham-based crypto trading amid broader institutional expansion in the region.
This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Cointelegraph.