Kraken Parent Payward Secures Full Regulatory Approval in Dubai

The authorization marks the final step in a process that began with preliminary clearance in May 2026. Kraken users in the UAE will gain immediate access to spot and margin trading, with the platform offering direct deposits and withdrawals in UAE dirhams. By eliminating the need to convert funds into external fiat currencies, the exchange aims to streamline local participation in digital asset markets.

Institutional clients will benefit from the integration of Kraken Prime, which provides over-the-counter spot trading and high-liquidity services. Beyond standard trading, the initial rollout includes on-chain staking and xStocks, a platform designed for tokenized equities and exchange-traded funds. Arjun Sethi, co-CEO of Payward and Kraken, confirmed that UAE clients will tap into the same global order book utilized by the firm’s other regulated markets.

While the company has not set a specific launch date, it plans to expand its regional portfolio in 2026 and 2027 to include derivatives and additional yield products, pending further regulatory sign-offs. Payward, which currently holds over 100 licenses globally, is also positioning its infrastructure for B2B use, allowing local partners to embed its trading capabilities into their own financial products. This expansion follows a broader strategy of institutional growth, highlighted by recent collaborations with Nasdaq and ongoing efforts to secure banking partnerships for digital asset custody and settlement.