Kraken Secures Full VARA Approval to Launch Crypto Services in the UAE

Kraken’s parent company Payward received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA) on October 12, clearing the exchange to launch regulated cryptocurrency services across the United Arab Emirates within weeks. The approval, announced in a company release , authorizes Payward’s Dubai subsidiary, Payward FZCO, to operate as a licensed Virtual Asset Service Provider serving retail, professional and institutional investors. At launch, Kraken customers in the UAE will be able to trade spot and margin pairs denominated in UAE dirhams (AED) and deposit or withdraw the local currency directly, without converting to another fiat currency first.