Kraken Secures Final Crypto License in Dubai, Prepares for UAE Launch
Cryptocurrency exchange Kraken has received Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA), allowing it to launch services for retail, professional, and institutional investors in the UAE wi
Kraken's parent company, Payward, has obtained Full Market Approval from the Virtual Assets Regulatory Authority (VARA) in Dubai. This approval marks the final stage of VARA's licensing process, enabling Kraken to commence operations and onboard clients across the United Arab Emirates in the coming weeks.
Scope of Services
The license permits Kraken to offer its services to retail, professional, and institutional investors in Dubai. This means the platform can now directly market to retail traders in the emirate, although VARA specifies limits on the retail services it expressly allows.
This follows Payward FZCO's preliminary authorization in May, which allowed the company to establish its local operations but not yet to serve customers.
Offerings for UAE Clients
Upon launch, UAE clients will be able to engage in spot and margin trading with pairs quoted in dirhams, and will have direct deposit and withdrawal access for the local currency. Retail users will also gain access to on-chain staking, transfers via the Krak app, and xStocks — Kraken's tokenized equities platform.
Institutional clients will benefit from over-the-counter (OTC) spot trading and access to Kraken Prime, a self-service platform designed for institutions. Payward co-CEO Arjun Sethi stated that UAE clients would experience the "same order book and multi-asset coverage" as in other markets.
Future plans include the introduction of crypto derivatives and additional yield products, anticipated in 2026 and 2027, subject to further regulatory approvals. Under VARA's updated exchange rulebook from March, explicit approval is required before listing futures, options, or perpetual contracts.
Questions, answered
- What kind of license did Kraken receive in Dubai?
- Kraken's parent company, Payward, received **Full Market Approval** from Dubai's Virtual Assets Regulatory Authority (VARA), which is the final stage of the licensing process.
- When will Kraken begin operations in the UAE?
- Kraken plans to start serving clients in the United Arab Emirates **in the coming weeks** following its full license approval.
- Which types of investors can use Kraken's services in Dubai?
- The license covers **retail, professional, and institutional investors**, allowing Kraken to market its platform directly to a wide range of clients in Dubai.
- What specific services will Kraken offer to UAE clients initially?
- Upon launch, UAE clients will be able to trade **spot and margin** on pairs quoted in dirhams, and perform direct deposits and withdrawals in local currency. Retail users will also get on-chain staking, transfers via the Krak app, and xStocks (tokenized equities).
- Are crypto derivatives available on Kraken in the UAE?
- Crypto derivatives and more yield products are **expected later in 2026 and into 2027**, subject to explicit regulatory approval from VARA, as per its exchange rulebook.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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