We are delighted to announce our expansion into the UAE after receiving preliminary approval for a broker-dealer, investment and management license from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE.
With this regulatory green light to offer a full range of services in Dubai, customers in the United Arab Emirates will have access to:
UAE traders will also have access to our global order books, which have significant liquidity and reliable execution across major markets in Europe, the US and APAC. Through a locally regulated Payward subsidiary, customers will also be able to fund and withdraw in Dirhams (AED), providing secure and frictionless access to global crypto markets via a trusted and regulated on-ramp.
“Dubai wrote a rulebook for crypto even before most jurisdictions recognized the asset class,” said Arjun Sethi, co-CEO of Payward and Kraken. “This clarity is why real liquidity and institutional capital is now in the UAE. Operating under VARA, Kraken is within this perimeter, serving its clients through a locally supervised entity rather than from abroad.”
This launch is part of our broader global growth strategy to establish regulated operations on the ground in major financial centers. By connecting new markets to its core trading network, we give our clients access to premium execution, significant liquidity and a consistently high level of service worldwide.
“UAE clients benefit from the same order book, balance sheet and multi-asset coverage that we offer in all other markets,” continued Seth. “The difference is that the rules are written and the supervisor is local. That’s what a license should mean.”
Kraken will introduce its Buy, Trade and Earn products in the UAE, providing direct access to spot trading and staking, subject to regulatory approval. Over time, Kraken will expand its offerings to include derivatives, loans and new investment products for qualified customers.
Payward FZCO is licensed by the Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Services Provider (VASP) under (License Category: Broker-Dealer/Investment and Management, full license reference upon final issuance). This authorization enables the provision of virtual asset services to retail and professional investors in the Emirate of Dubai, subject to VARA’s regulatory framework and applicable conditions.
Services available to retail customers are limited to those expressly permitted for retail customers under VARA’s retail access rules and may differ from the products and services available to professional customers.
Virtual assets are inherently risky and may lose value. Retail clients should carefully review the applicable risk information and ensure that they understand the nature of exposures to virtual assets before trading. Payward maintains separate customer asset agreements and regulatory capital requirements as prescribed by VARA.
