CHEYENNE, Wyo., Oct 12 — Payward, a unified financial infrastructure platform and the parent company of Kraken, today announced plans to launch in the UAE, after receiving Full Market Approval from the Virtual Asset Regulatory Authority (VARA) in Dubai. The approval permits Payward to operate as a regulated Virtual Asset Service Provider, serving retail, professional and institutional investors.
At launch, Kraken clients in the UAE will be able to trade spot and margin with AED-denominated pairs, and fund and withdraw directly in dirhams. Clients will also have access to on-chain staking, xStocks as well as Krak for crypto transfers, while institutional clients gain OTC spot trading and Kraken Prime.
Additional products, including crypto derivatives and an expanded range of new yield opportunities, are expected to follow later in 2026 and into 2027, subject to regulatory approval. Payward will also make its infrastructure available to regional partners through embedded trading as a service.
“From launch, clients in the UAE get the same order book and multi-asset coverage we run in every other market, under one of the clearest regulatory frameworks in the world,” said Arjun Sethi, Co-CEO of Payward and Kraken. “Payward’s regulatory infrastructure now connects them directly to Kraken’s market-leading liquidity, along with a growing range of opportunities across digital assets.”
Full Market Approval is the final stage of VARA’s licensing process and authorises Payward to commence regulated activity in Dubai. It follows the preliminary approval Payward received from VARA in May 2026, which permitted the entity to complete operational set-up ahead of client onboarding.
The UAE launch is part of Payward’s effort to continue building regulated, on-the-ground operations across key financial centers. By connecting new markets to its core trading network, Kraken gives clients access to premium execution, deep liquidity and a consistent standard of service. Payward currently holds more than 100 licences and registrations worldwide, spanning Europe, the Americas, Asia-Pacific and the Middle East.
