Kraken, one of the world’s leading cryptocurrency exchanges, has achieved a significant regulatory breakthrough in the United Arab Emirates. The exchange’s parent company, Payward, was granted a broker-dealer, investment, and management license by Dubai’s Virtual Asset Regulatory Authority (VARA), the official body overseeing digital assets. This development enables Kraken to officially launch its operations in Dubai and offer services to a broader range of clients within the country.
Kraken’s growth strategy in Dubai
This milestone is a key pillar in Kraken’s overall expansion plans and strengthens the company’s presence across the Middle East. With the new license, Kraken gains the ability to offer not just spot and margin trading, but also OTC market services, staking, and advanced solutions for institutional investors in Dubai. In particular, the company is expected to deliver enhanced professional services to large-scale investors through its Kraken Prime platform.
Glossary: VARA is a specialized regulatory authority in Dubai overseeing digital asset service providers and granting operating licenses to cryptocurrency exchanges.
Comprehensive services from spot trading to OTC
With its reliable platform offering high liquidity, Kraken is set to broaden its product range thanks to the newly acquired license. Local users will now be able to directly access the deep liquidity pools of European, US, and Asia-Pacific markets. This gives clients the ability to make large-volume trades efficiently and at competitive prices.
Kraken emphasized that it will provide a complete service experience for customers in Dubai, including not only spot and margin trading, but also OTC market services and staking products.
When it comes to institutional clients, Kraken Prime stands out by offering advanced reporting tools and professional payment solutions, tailored to the needs of major investors.
| Service Type | Available in Dubai | Target Audience |
|---|---|---|
| Spot & Margin Trading | Yes | Retail & Institutional |
| OTC Services | Yes | Institutional |
| Staking | Yes | All Users |
| Kraken Prime | Yes | Large Investors |
Local currency trading made simple
Kraken announced that later this year, support for deposits and withdrawals in United Arab Emirates dirham (AED) will be launched. This will allow clients to move funds directly between their local bank accounts and the crypto exchange, enabling seamless trading without the need for foreign currency transfers.
Furthermore, via its locally established and regulated subsidiary in Dubai, Payward will ensure customer balances are safeguarded in compliance with local regulations and that all transactions are conducted transparently.
A new chapter for Dubai’s crypto ecosystem
The United Arab Emirates has recently positioned itself as a regional leader in cryptocurrency regulation. Kraken’s acquisition of the VARA license is seen as a trust-building development for the sector and meets the expectations of both retail and institutional investors for a secure trading environment. The new structure supports Kraken’s long-term growth targets in the region.
According to statements shared, the crypto-friendly regulatory environment in Dubai will allow Kraken to rapidly localize its financial technology products and quickly acquire new customer segments throughout the region.
