Kraken UAE Expansion Advances After Dubai VARA Preliminary Approval

Kraken is moving closer to launching full services in the United Arab Emirates after its parent company Payward received preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA). The approval covers a broker-dealer, investment, and management licence, marking a key step toward expanding regulated crypto operations in the region.

According to the company, the preliminary approval was granted on Thursday, while a full launch date has not yet been confirmed. Kraken plans to introduce UAE dirham (AED) funding along with margin trading, over the counter services, and institutional access through Kraken Prime.

Dubai Strengthens Position as Global Crypto Hub

Dubai’s VARA framework continues to expand, with 49 active crypto firms now listed, including major exchanges such as Binance, OKX, Crypto.com, Deribit, and HashKey. The growing list reflects Dubai’s strategy to position itself as a regulated global hub for digital assets.

Kraken and Payward are not yet listed on the public VARA register, but earlier approvals in Abu Dhabi in 2022 already gave the exchange a regional foothold.

Regulatory Clarity Drives Institutional Growth in UAE

Industry executives say clear regulation is attracting global capital to the UAE, even amid wider regional geopolitical tensions. Kraken leadership said Dubai’s early regulatory framework for crypto has helped create a stable environment for liquidity and institutional participation, supporting further expansion of digital asset markets in the country.