Kraken Wins Preliminary Dubai Approval, Plans AED Funding and Trading in UAE

Kraken is one of the world’s major cryptocurrency exchanges and is owned by Payward. It secured an operating license in Abu Dhabi’s financial free zone as early as 2022. Its move into Dubai will determine whether it can connect local-currency services with global liquidity and expand its institutional business under VARA’s regulatory framework.

Payward said on May 21, 2026, that it had received preliminary approval from Dubai’s Virtual Assets Regulatory Authority, or VARA, for brokerage, investment and management licenses. No formal launch date has been announced. Once the approval process is complete, Kraken will offer AED funding, margin and OTC trading, along with its institutional-grade Kraken Prime service.