Kraken Secures VARA Approval to Launch Crypto Trading and Staking in UAE
Clients in the UAE will also gain access to Krakens global trading infrastructure, including tied to major markets across the United States, Europe, and Asia-Pacific. Through a locally regulated subsidiary, users will be able to deposit and withdraw funds directly in UAE dirhams, streamlining access to global markets. “Dubai wrote a rulebook for before most jurisdictions even acknowledged the asset class,” said Arjun Sethi, co-CEO of Payward and Kraken. “That clarity is why real and institutional capital now sit in the UAE.” Sethi said operating under VARAs framework allows Kraken to serve regional clients through a locally supervised structure rather than relying on offshore entities, an issue that has become increasingly important as regulators worldwide tighten oversight of digital asset platforms. Kraken‘s expansion is part of Payward’s broader strategy to establish regulated operations in major financial centers. Initially, Kraken plans to roll out its Buy, Trade, and Earn services in the country, subject to final regulatory approvals. Over time, the exchange intends to expand into derivatives, lending products, and additional investment services for qualified clients. The move adds to a growing list of crypto firms choosing the UAE as a strategic base for regional and international operations. Dubai, in particular, has emerged as one