Kraken parent Payward wins full Dubai VARA approval, plans UAE launch within weeks
Payward, parent of crypto exchange Kraken, received full market approval from Dubai's VARA to operate as a regulated virtual asset service provider serving retail, professional and institutional investors in the UAE.
Why it matters
The approval gives Kraken a regulated entry point into the UAE's growing digital asset market, joining established competitors and expanding the exchange's global license count beyond 100. It also enables dirham-denominated trading and local funding rails for UAE residents.
Where the sources disagree
License issuance date versus public announcement date
October 6 2026 (register issuance date)
Cointelegraph, Bitcoin Insider
October 12 2026 (public announcement date)
Finance Magnates Crypto, Bitcoin Insider, Crypto News Flash, Crypto.News, CoinGape, CryptoPotato, Bitcoin Magazine, Crypto News (CryptoNews.net)
VARA's register shows license issued October 6 2026 while public announcements and media reports appeared on October 12 2026
Key facts
Payward received Full Market Approval from Dubai's VARA to operate as a regulated Virtual Asset Service Provider in the UAE
Reported by Finance Magnates Crypto
The license allows Payward to serve retail, professional and institutional investors in the UAE
Reported by Finance Magnates Crypto
Preliminary authorization was granted in May 2026 allowing Payward to build local operations but not onboard clients
Disputed figureReported by Finance Magnates Crypto
Kraken plans to launch UAE operations within weeks of the October 12 approval
Reported by Finance Magnates Crypto
At launch UAE customers will access spot and margin trading in AED-denominated pairs with direct AED deposits and withdrawals
Reported by Crypto.News
Launch services include on-chain staking, xStocks tokenized equities, Krak crypto transfers, and institutional OTC spot trading and Kraken Prime
Reported by Crypto.News
Crypto derivatives and additional yield products are planned for later in 2026 and 2027 subject to regulatory approval
Disputed figureReported by Crypto.News
VARA's public register shows Payward FZCO license issued October 6 2026 under reference VL/26/10/002 for management investment and broker-dealer services
Disputed figureReported by Cointelegraph
What happened
Payward secured Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA) on October 12, clearing the final regulatory stage after preliminary authorization in May 2026. The license permits the company to serve retail, professional and institutional investors in the UAE. At launch, expected within weeks, Kraken will offer spot and margin trading in UAE dirham (AED) pairs with direct AED deposits and withdrawals, on-chain staking, xStocks tokenized equities, and Krak for crypto transfers, while institutional clients gain access to OTC spot trading and Kraken Prime. Crypto derivatives and additional yield products are planned for later in 2026 and 2027 pending further regulatory approval. VARA's public register shows the license was issued to Payward FZCO on October 6 under reference VL/26/10/002. Payward holds more than 100 licenses globally. The move enters Kraken into a market where Crypto.com, Binance and Bybit already hold licenses from VARA or the UAE's federal Securities and Commodities Authority.
How the story developed
- Official statement
VARA issues full license to Payward FZCO
Virtual Assets Regulatory Authority register shows license reference VL/26/10/002 issued for management investment and broker-dealer services
- First report
First report by Finance Magnates Crypto
Kraken Gets Final Dubai Crypto License, Plans UAE Launch Within Weeks
- Official statement
Payward announces full VARA approval and UAE launch plans
Parent company of Kraken publicly confirms Full Market Approval and intention to launch within weeks
- Official statement
Preliminary VARA authorization granted
Payward received preliminary approval in May 2026 allowing local infrastructure build-out before client onboarding
- Independent corroboration
Independently corroborated by Crypto News Flash
Kraken Targets UAE Crypto Market After Dubai License Approval
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 12 Oct 2026, 08:18 UTC: Finance Magnates Crypto, Mainstream media — 1 independent source, 1 reports
- 12 Oct 2026, 08:45 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 12 Oct 2026, 08:45 UTC: Crypto News Flash — 3 independent sources, 3 reports
- 12 Oct 2026, 09:09 UTC: Crypto.News — 4 independent sources, 4 reports
- 12 Oct 2026, 09:41 UTC: Cointelegraph — 5 independent sources, 5 reports
- 12 Oct 2026, 11:13 UTC: TheNewsCrypto — 6 independent sources, 6 reports
- 12 Oct 2026, 11:19 UTC: CoinGape — 7 independent sources, 7 reports
- 12 Oct 2026, 16:16 UTC: CryptoPotato — 8 independent sources, 8 reports
- 13 Oct 2026, 22:52 UTC: Bitcoin Magazine — 9 independent sources, 10 reports
Affected entities
Also mentioned: Crypto.com, Bitcoin, U.S. Securities and Exchange Commission, Bybit, Ethereum, Commodity Futures Trading Commission, OKX
Original sources
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