On October 12, 2026, Payward, Kraken’s parent, announced plans to launch in the UAE after receiving Full Market Approval from VARA in Dubai.
The Brief
- Payward says the approval from the Virtual Asset Regulatory Authority (VARA) permits it to operate as a regulated Virtual Asset Service Provider for retail, professional and institutional investors.
- Kraken clients in the UAE will be able to trade spot and margin with AED-denominated pairs at launch, and fund and withdraw directly in dirhams.
- Payward holds more than 100 licenses and registrations worldwide, the release said.
- 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 said Kraken is targeting a go-live for UAE clients in the coming weeks. The release names no launch date, no licence number and no client figures.
Payward, @krakenfx ‘s parent, announced plans to launch in the UAE after receiving Full Market Approval from VARA in Dubai. https://t.co/uVTmdnzN3m
— CoinLaw (@coinlaw_io) October 12, 2026
The release calls Full Market Approval the final stage of VARA’s licensing process. It 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.
Arjun Sethi, Co-CEO of Payward and Kraken, framed the launch as parity with other markets. He said:
Derivatives and yield products wait on further approval
At launch, Payward said, Kraken clients in the UAE will have access to on-chain staking, xStocks as well as Krak for crypto transfers. Institutional clients gain OTC spot trading and Kraken Prime. Crypto derivatives and an expanded range of new yield opportunities are expected to follow later in 2026 and into 2027, subject to regulatory approval.
Its own wording suggests Full Market Approval does not by itself cover derivatives and yield, which sit behind a separate approval step.
Embedded trading opens a partner route
In the release, Payward said it will also make its infrastructure available to regional partners through embedded trading as a service. The release names no partners, fees, start date or pricing for that offer. It also gives no volume, revenue or client figures for the UAE business, so the scale of the partner plan is unknown.
The wording points to a second route into the UAE, where a partner could offer trading built on Payward’s systems. The release sets one near-term marker and one longer one. Kraken’s go-live is targeted for the coming weeks, and the later products depend on approvals Payward has not yet reported. Until a date is posted or VARA’s own records confirm it, the approval rests on Payward’s announcement alone.
