Payward Secures Full Dubai License for Kraken UAE Debut

Payward, the parent company of cryptocurrency exchange Kraken, has announced plans to launch operations in the United Arab Emirates.

Following the acquisition of full market approval from Dubai’s Virtual Asset Regulatory Authority, Payward stated on Tuesday that it is now authorized to function as a regulated virtual asset service provider catering to retail, professional, and institutional investors.

This milestone builds on a preliminary approval granted in May, which enabled the firm to finalize its operational framework ahead of client onboarding.

Upon launch, users of Kraken in the UAE will gain the ability to execute spot and margin trades utilizing dirham-denominated pairs, alongside direct account funding and withdrawals in dirhams.

Furthermore, customers will be granted access to on-chain staking, xStocks tokenized equities, and Krak for crypto transfers. Institutional clients will benefit from OTC spot trading and Kraken Prime, while crypto derivatives and new yield products are anticipated to roll out later in 2026 and into 2027, pending regulatory clearance.

Presently, Payward maintains more than 100 licenses and registrations globally across Europe, the Americas, the Asia-Pacific region, and the Middle East.

This regional expansion aligns with a series of strategic agreements secured by the company. In September, Bloomberg reported that Nasdaq Inc. committed a $100 million investment into Payward at a $21 billion valuation, alongside plans for Kraken to distribute Nasdaq’s tokenized equities on its platform.

Additionally, Payward and SoFi Technologies recently revealed a partnership to channel crypto orders from SoFi clients through Kraken Prime—Kraken’s prime brokerage division introduced in 2025—while also listing SoFi’s stablecoin on the exchange.

Similar to other digital asset exchanges, Kraken is increasingly expanding into traditional finance by enabling users to trade assets such as stocks and bonds, positioning its application as a comprehensive financial hub.

Frequently Asked Questions

What did Kraken’s parent company Payward achieve in Dubai?

Payward secured full market approval from Dubai’s Virtual Asset Regulatory Authority to operate as a regulated virtual asset service provider for retail, professional, and institutional investors.

What features will be available to Kraken users in the UAE at launch?

Users will be able to trade spot and margin with dirham-denominated pairs, fund and withdraw in dirhams, and access on-chain staking, xStocks tokenized equities, and Krak for crypto transfers. Institutional clients will also receive access to OTC spot trading and Kraken Prime.

When will crypto derivatives and yield products launch in the UAE?

Crypto derivatives and new yield products are anticipated to launch later in 2026 and into 2027, pending regulatory approval.

How many licenses does Payward hold worldwide?

Payward holds over 100 licenses and registrations across the Americas, Europe, Asia-Pacific, and the Middle East.