Kraken parent Payward secures preliminary VARA approval for Dubai expansion
The Block
Payward, the parent company of Kraken, has received preliminary regulatory approval from Dubai's VARA to expand its operations into the UAE.Summary
Payward, the parent company of the cryptocurrency exchange Kraken, has secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows the firm to provide a range of regulated virtual asset services in the UAE, including spot, margin, and OTC trading, as well as institutional access via Kraken Prime. UAE clients will gain access to Kraken’s global orderbooks, with local funding supported through a subsidiary, as part of the firm's broader strategy to establish regulated operations in key global financial centers.
(Source：The Block)