Payward, the parent company of the Kraken cryptocurrency exchange, has attained full regulatory clearance in Dubai, marking a significant milestone for its planned expansion across the United Arab Emirates (UAE). Granted by Dubai’s Virtual Assets Regulatory Authority (VARA), this approval enables the firm to set up operations to cater to retail, professional, and institutional participants within the emirate’s legal structure.
Revealed on Monday, October 12, 2026, the green light comes after the company received preliminary authorization back in May. While an exact launch date has not been specified, Payward anticipates opening services to UAE clients within the next few weeks.
UAE Customers to Get Direct Dirham Trading
During the initial phase, UAE-based Kraken users will be able to trade cryptocurrencies on both spot and margin markets utilizing pairs priced in UAE dirhams (AED). Furthermore, users will have the ability to deposit and withdraw money straight in the local legal tender.
This development is designed to streamline regional access by eliminating the necessity to convert dirhams into alternative currencies prior to account funding. While spot trading entails the immediate purchase or sale of assets, margin trading permits participants to borrow capital to amplify their market exposure, which can heighten both potential profits and deficits.
Additional offerings slated for the region include on-chain staking, tokenized equities via xStocks, and Krak for digital currency transfers. The rollout of any specific offering will remain subject to the relevant regulatory permissions.
Institutional Investors Also in Focus
Beyond individual traders, Payward’s expansion targets corporate clients. Institutional users will gain entry to over-the-counter (OTC) spot trading along with Kraken Prime, which serves as the organization’s dedicated platform for professional-grade trading and liquidity management.
OTC deals enable large-scale investors to complete trades privately rather than routing every order through a public order book. Such mechanisms assist institutions in managing substantial transactions and mitigating potential price disruption in the market.
Additionally, the firm intends to extend its trading framework to regional enterprises via embedded trading solutions. Through this offering, corporate partners can embed digital asset trading functionalities directly into their proprietary financial systems rather than developing the required architecture from scratch.
Also Read: Coinbase vs Kraken: Fees, Features, Crypto Trading Options Compared
More Crypto Products Planned as Dubai Expands Regulation
Pending additional compliance authorizations, Payward plans to roll out cryptocurrency derivatives and supplementary yield-generating features later in 2026 and moving into 2027. These particular offerings do not form part of any unconditional release schedule.
This regulatory clearance underscores Dubai’s ongoing drive to build a structured digital asset economy. VARA oversees virtual asset operations throughout the emirate—excluding the Dubai International Financial Center—and enforces a comprehensive licensing framework for firms working in the space.
With a portfolio exceeding 100 global licenses and registrations, Payward’s newest approval bolsters its footprint in the Middle East and readies Kraken to vie for regional retail and institutional clientele. The upcoming phase will focus on launching UAE-based operations and releasing the products authorized under its current license.
