The Virtual Assets Regulatory Authority (VARA) in Dubai has granted Full Market Approval to Payward, the parent company of cryptocurrency exchange Kraken, paving the way for its planned launch in the United Arab Emirates.

In the coming weeks, the company aims to start providing services for institutional, professional, and retail investors in the United Arab Emirates. Tokenised equities, on-chain staking, dirham-denominated trading, direct AED transfers and withdrawals, and specialised services for institutional clients are all part of the supposed offering.

Why Starknet Wants to Become a Layer 1

Payward's entry into the UAE market has advanced significantly with the approval. The company can now offer regulated virtual asset services to institutional, professional, and retail investors because of VARA's permission, which extends beyond the preliminary approval it obtained in May 2026.

Payward's proposed broker-dealer, investment, and management activities in Dubai were covered by the previous clearance. The most recent approval removes the last regulatory obstacle for Kraken's anticipated launch in the UAE.

Kraken will be allowed to launch its services within Dubai's virtual asset regulatory framework due to Payward's local operations. The exchange plans to debut in the upcoming weeks, but users won't be able to use the planned services until after the launch.

How Quantum Computing and AI Shape the Decision

Kraken plans to provide spot and margin trading in dirhams from the United Arab Emirates. Additionally, customers will be able to easily deposit and withdraw AED, allowing local users to transfer between their bank cash and supported digital assets without depending entirely on other currencies.

Both professional and retail merchants are covered by the proposed services. While margin trading will give qualified customers an additional means of taking trading positions, spot trading will give access to supported cryptocurrency assets.

A key component of the introduction is direct dirham funding, which links local currency payments with Kraken's trading platform. Additionally, the business intends to offer on-chain staking, enabling qualified clients to use its platform to take part in supported blockchain staking services.

xStocks, Payward's tokenised stock offering, is another feature that is planned. Tokenised representations of stocks will be made available to qualified consumers, expanding the planned UAE product line beyond cryptocurrencies. Availability will be determined by the products available locally and the relevant legal requirements.

Ethereum Dependencies & the 2027 Target

Institutional client services are also part of Payward's UAE expansion. The local offering will include Kraken Prime, which would give institutions access to Kraken's specialised trading capabilities.

The business intends to provide over-the-counter spot trading as well. Instead of depending solely on orders issued through a public exchange order book, OTC services enable institutions to directly arrange trades.

The retail and professional trading choices intended for the UAE will be enhanced by these services. Payward is getting ready to provide customers with a variety of trading needs, from small investors to bigger professional market participants, by incorporating Kraken Prime and OTC spot trading into the rollout.

The institutional offering is a component of the same regulated growth made possible by full market permission from VARA.

STRK Gains & the Trade Off of Independence

Kraken won't launch all of its products in the UAE immediately. Payward plans to launch cryptocurrency derivatives and other services in the future; more rollouts are planned in late 2026 and early 2027. The planned release of those products should not be regarded as instant availability, as they are still awaiting additional regulatory approval.

AED-denominated spot and margin trading, direct dirham funding, onchain staking, xStocks, institutional services via Kraken Prime, and OTC spot trading are now the main focuses of the near-term use.

Following Payward's initial VARA authorisation in May 2026, the full clearance moves Kraken one step closer to starting regulated operations for UAE clients.

If you find any issues in this article or notice missing information, please feel free to reach out at team@etherworld.co for clarifications or updates.

To promote your Web3 articles, events, and projects, you may reach out anytime via EtherWorld PR for submissions and collaboration.

Related Articles

1. Samsung Adds USDC to 82M Galaxy Devices
2. Abstract Blockchain Shutdown Set for December 2026
3. ZachXBT Uncovers Chinese $1B Crypto Laundering Ring
4. Ethereum Sepolia Glamsterdam Upgrade Goes Live
5. LIBRA & M3M3 Case Dismissed by U.S. Judge

To follow blockchain news, track Ethereum protocol progress, and read our latest stories, subscribe to our weekly today.

Join the EtherWorld & Avarch Internship Program and build your career in blockchain, content, social media, video, podcast editing, or operations. Send your resume and brief introduction to contact@etherworld.co.