Kraken's Parent Gets Full Dubai Approval for Dirham Trading
Payward cleared VARA's final hurdle in Dubai, unlocking dirham-denominated crypto trading after securing preliminary approval in May.
Kraken's parent company, Payward, just got the green light from Dubai's Virtual Assets Regulatory Authority — and this one's the real deal. Full market approval, not just a preliminary nod. That means dirham-denominated digital asset trading is officially on the table in the UAE.
This clears the final regulatory hurdle after Payward picked up its preliminary approval back in May. Two-step process, both steps done. Dubai doesn't hand these out casually — VARA is one of the more rigorous crypto licensing regimes on the planet, so this stamp matters.
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For traders in the Gulf region, this is a big deal. Having a top-tier exchange operating directly in dirhams removes friction — no more currency conversion headaches or routing through offshore platforms. It's a direct onramp into crypto markets with local currency support from a globally recognized brand.
The UAE has been aggressively positioning itself as a crypto-friendly hub, and Kraken planting its flag with full regulatory backing only reinforces that narrative. Competitors will be watching. If Payward can build out a compliant, liquid dirham market, it sets a template that other major exchanges will feel pressure to follow.
This is one of those moves that looks incremental on paper but could reshape regional crypto liquidity in a meaningful way. Watch the dirham trading volumes when this rolls out. Continue reading at Cointelegraph.
