The exchange will offer spot, margin trading, and institutional services to UAE retail and professional investors under local regulation.
Cryptocurrency exchange Kraken has secured preliminary broker-dealer and investment management authorization from Dubai’s Virtual Asset Regulatory Authority (VARA). The license allows Kraken to serve both retail and professional investors in the UAE with spot and margin trading, over-the-counter services, staking, and crypto transfers.
The approval follows Dubai’s establishment of a regulatory framework for virtual assets, positioning the emirate as a hub for institutional and retail crypto activity. Kraken will connect UAE clients to its global order books across Europe, the U.S., and Asia-Pacific markets, with dirham funding and withdrawals facilitated through its locally regulated subsidiary, Payward FZCO.
Kraken plans to expand its Dubai offerings to include derivatives, lending, and new investment products for qualified clients. The exchange highlighted Dubai’s regulatory clarity as a key factor in attracting liquidity and institutional capital to the region.