Kraken’s Parent Payward Wins Full Dubai VARA License

Payward, the company behind Kraken, is about to enter the UAE market after completing VARA’s licensing process in Dubai. This approval lets Payward operate as a regulated Virtual Asset Service Provider and serve all types of investors: retail, professional, and institutional. In May 2026, Payward received preliminary approval to start preparing its operations before welcoming clients.

The upcoming expansion will connect UAE customers to Kraken’s trading network and introduce a range of services tailored to the local market. Besides trading and payment options, Payward wants to offer products built for both individual users and institutions. They also plan to make their technology available to regional partners, expanding their footprint beyond direct customer services.

Full Market Approval Allows Payward to Begin Operations

This latest approval is a big milestone for Payward as it moves into Dubai. VARA’s Full Market Approval is the final licensing step, authorising Payward to start regulated activities in the emirate. The earlier approval in May 2026 had allowed Payward to establish its operations, but the latest decision moves the process forward to the stage where it can prepare to serve clients.

So now, Payward can cater to three main types of customers: retail, professional, and institutional investors. This setup lets them meet a variety of trading needs through their regulated operations.

Launching in the UAE fits right into Payward’s bigger plan to open up local offices in major financial hubs. The company said it already holds over 100 licences and registrations across Europe, the Americas, Asia-Pacific, and the Middle East. Their strategy is all about linking new markets to their existing trading network, while sticking to a consistent operating model.

AED Trading and Funding Options for UAE Clients

Once Kraken opens in the UAE, local users will get access to spot and margin trading, with trading pairs available in AED. They will also be able to deposit and withdraw dirhams straight to and from their Kraken accounts, making it easier to move money in the local currency.

These features are at the centre of what Kraken plans to offer customers. Instead of just trading in other currencies, users will have AED denominated options. Easy dirham funding and withdrawals will make transactions between local banks and Kraken simpler.

Along with trading, Kraken’s upcoming offerings include on-chain staking, xStocks, and Krak for crypto transfers. All these new tools give customers more ways to use the platform. Still, there is no exact launch date or a detailed schedule for each feature just yet.

Institutional Services and Future Product Expansion

Payward is also rolling out services for professionals and institutions. Bigger clients will be able to access OTC spot trading and Kraken Prime, which expands the company’s reach beyond just retail traders and gives institutions more choices for digital asset trading.

The plan includes expanding their product range after they launch. They will add crypto derivatives and more yield options starting later in 2026 through 2027. These new features depend on regulatory approval, so their launch depends on getting the right permissions.

Another key part of their plan is trading as a service. Payward aims to offer its infrastructure to regional partners, so other businesses could add trading functionality to their own products. The platform is designed to handle liquidity, risk, margin management, collateral, settlement, compliance, and licensing.

One Infrastructure Behind Multiple Financial Products

Payward, as Kraken’s parent company, supports a broader group of businesses and products like NinjaTrader, Breakout, xStocks, and CF Benchmarks. Their model keeps the core technology and operations separate from the products built off that platform.

They rely on the same architecture for managing liquidity, risk, margin, collateral, settlement, and compliance. This approach helps them expand into new markets without having to build an entirely separate foundation for each product or customer group.

For the UAE launch, Payward Co-CEO Arjun Sethi said customers would get access to Kraken’s order book and wide asset selection, all under Dubai’s regulatory framework. The announcement highlights how combining local approval with Kraken’s global infrastructure forms the backbone of Payward’s expansion plans.