- Kraken is preparing to launch in the UAE in the coming weeks after Payward secured Full Market Approval from Dubai’s VARA.
- Initial services include AED spot and margin trading, direct dirham deposits and withdrawals, staking, xStocks and institutional trading.
- Derivatives and additional yield products are planned for later, subject to regulatory approval.
Crypto exchange Kraken is getting ready to go live in the United Arab Emirates as its parent company, Payward, officially obtained Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA). According to VARA’s public register, Payward’s licence was granted on October 6, 2026, granting it permission to cater to retail, qualified, and institutional investors. Payward made the official announcement regarding the approval on October 12.
This milestone finalizes the regulatory process ahead of the platform opening its doors to local clients, with the official rollout scheduled for the coming weeks.
Right out of the gate, users will have the ability to utilize UAE dirham (AED)-denominated pairs for spot and margin trading. Furthermore, direct dirham deposits and withdrawals will be supported, enabling local participants to use the exchange without needing to convert their money into alternative currencies first.
The upcoming service lineup features on-chain staking, xStocks, and Krak designed for crypto transfers. Institutional clients will additionally benefit from over-the-counter (OTC) spot trading along with Kraken Prime, a specialized offering tailored for professional traders.
Derivatives and Additional Yield Products Planned Later
Back in May 2026, Payward was granted preliminary approval by VARA, which enabled the company to set up its regional infrastructure prior to onboarding users. This most recent green light authorizes the firm to officially roll out the regulated activities permitted under its Dubai license.
Nevertheless, the initial UAE release will exclude certain offerings from Payward’s ultimate roadmap. Crypto derivatives and extra yield generation features are anticipated to arrive later in 2026 and throughout 2027, pending additional regulatory clearances. Exact release dates for these specific offerings have not yet been disclosed.
Additionally, Payward intends to supply its trading infrastructure to regional enterprises via an embedded trading service. This capability could enable corporate partners to embed trading functionalities directly into their native platforms, though specific partners and deployment timelines remain unannounced.
According to Arjun Sethi, co-CEO of Payward and Kraken, clients in the UAE will gain access to the identical order book and multi-asset selection found across the firm’s global markets.
Payward stated that it possesses in excess of 100 licenses and registrations globally, covering regions across the Middle East, the Americas, Europe, and Asia-Pacific. The expansion into the UAE introduces a fresh regulated jurisdiction to its footprint, though the rollout of upcoming services will rely entirely on obtaining the requisite permissions.
Frequently Asked Questions
When is Kraken launching in the UAE?
Kraken is preparing to launch in the UAE in the coming weeks following Payward’s receipt of Full Market Approval from Dubai’s VARA, which was issued on October 6, 2026, and announced on October 12.
What features will be available at launch?
Initial offerings include UAE dirham (AED) spot and margin trading, direct dirham deposits and withdrawals, on-chain staking, xStocks, Krak for crypto transfers, institutional OTC spot trading, and Kraken Prime.
Will crypto derivatives be available immediately?
No. Crypto derivatives and additional yield products are slated for later in 2026 and into 2027, pending further regulatory approval.
Who is eligible to use the platform in the UAE?
The licence authorizes Kraken to provide services to retail, qualified, and institutional investors in the region.
