Kraken nears UAE launch after Dubai VARA approval
Kraken has moved closer to launching in the United Arab Emirates after its parent company, Payward, received preliminary approval from Dubais Virtual Assets Regulatory Authority.Krakens parent Payward received preliminary VARA approval for broker-dealer, investment and management services in Dubai.The planned UAE launch includes AED funding, margin trading, OTC services and Kraken Prime access.Related reports show Dubais crypto rulebook continues attracting exchanges, payment firms and institutional trading platforms.ăăPayward received preliminary approval for a broker-dealer, investment and management licence from VARA. The approval gives Kraken a path toward offering regulated crypto services in Dubai once the remaining requirements are completed.ăăThe approval was granted on Thursday, May 21, moving Kraken closer to a full UAE rollout. The exchange has not confirmed a launch date, but plans to offer UAE dirham funding, margin trading, OTC trading and Kraken Prime access for institutional clients.ăăKraken plans AED funding and institutional accessăăThe planned launch would give UAE users direct crypto market access through local currency rails. AED funding and withdrawals could reduce friction for traders who currently rely on foreign currency routes or third-party payment channels.ăăKraken is now authorized by VARA in Dubai.ăăAuthorization covers spot, margin, OTC, staking, and institutional access through Kraken Prime.$AED funding follows later