Payward FZCO, part of the group behind Kraken, has received an active virtual asset service provider licence from Dubai's Virtual Assets Regulatory Authority (VARA). The regulator's public register records an issue date of October 6, 2026, clearing a regulatory step for Kraken's planned expansion in the UAE.
The licence covers broker-dealer services as well as management and investment services. It permits Payward to serve retail, qualified and institutional investors, subject to the applicable conditions. Its reference number is VL/26/10/002. Kraken had announced preliminary approval in May 2026.
Dirham funding and trading in the launch plan
In its UAE announcement, Kraken said it planned to let local clients fund and withdraw in UAE dirhams and trade AED pairs. The proposed offering includes spot and margin trading, staking and transfers through Krak. It also names over-the-counter trading and Kraken Prime for institutional clients.
Local funding would allow clients to move money in and out in dirhams once those channels are operating. The licence itself does not establish that every planned product is already available to every client group. Product access remains subject to the relevant licence conditions and approvals. Kraken also said it intended to expand its offering over time to products including derivatives, without setting a firm launch date in that announcement.
The VARA register provides the current licence status and authorised activities. Clients can check Kraken's official channels for the availability and terms of individual services as they launch.