We’re excited to announce our expansion into the United Arab Emirates after being granted preliminary approval for a broker-dealer, investment and management licence from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE.
With this regulatory go-ahead to offer a full range of services in Dubai, UAE customers will have access to:
UAE traders will also gain access to our global orderbooks, which have deep liquidity and reliable execution across major markets in Europe, the US, and APAC. Through a locally regulated Payward subsidiary, clients will also be able to fund and withdraw in dirhams (AED), providing secure, frictionless access to global crypto markets through a trusted, regulated on-ramp.
“Dubai wrote a rulebook for crypto before most jurisdictions even acknowledged the asset class,” said Arjun Sethi, Co-CEO of Payward and Kraken. “That clarity is why real liquidity and institutional capital now sit in the UAE. Operating under VARA puts Kraken inside that perimeter, serving clients through a local, supervised entity rather than from offshore.”
This launch is part of our broader global growth strategy to establish regulated, on-the-ground operations in key financial centers. By connecting new markets to its core trading network, we give clients access to premium execution, deep liquidity and a consistent high standard of service worldwide.
“Clients in the UAE get the same order book, the same balance sheet, and the same multi-asset coverage we run in every other market,” Seth continued. “The difference is that the rulebook is written down and the supervisor is local. That is what a license should mean.”
Kraken will introduce its Buy, Trade and Earn products to the UAE, offering direct access to spot trading and staking, subject to regulatory approval. Over time, Kraken will expand its offering to include derivatives, lending and new investment products for qualified clients.
Payward FZCO is licensed by the Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider (VASP) under [License Category: Broker-Dealer / Investment and Management, full license reference upon final issuance]. This authorization permits the provision of virtual asset services to both retail and professional investors in the Emirate of Dubai, subject to VARA’s regulatory framework and applicable conditions.
Services available to retail clients are limited to those expressly permitted for retail clients under VARA’s retail-access rules and may differ from products and services available to professional clients.
Virtual assets are inherently risky and may lose value. Retail clients should carefully review the applicable risk disclosures and ensure they understand the nature of virtual asset exposures before trading. Payward maintains segregated client asset arrangements and regulatory capital requirements as prescribed by VARA.