Kraken Parent Payward Wins Full Dubai License, Plans UAE Launch

Crypto exchange Kraken’s parent company Payward has said it has plans to launch in the United Arab Emirates. After receiving full market approval from Dubai’s Virtual Asset Regulatory Authority, Payward said Tuesday that Payward can now operate as a regulated virtual asset service provider serving retail, professional and institutional investors. It follows a preliminary approval in May that allowed the company to complete its operational set-up ahead of onboarding clients. At launch, Kraken clients in the UAE will be able to trade spot and margin with dirham-denominated pairs and fund and withdraw directly in dirhams.