Payward, the parent company of Kraken, has secured preliminary approval from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE, to operate as a broker-dealer and investment manager. This authorization allows Kraken to offer a full suite of services including spot trading, margin trading, and staking to customers in the UAE. With the ability to fund and withdraw in UAE dirhams (AED), clients can access global crypto markets through a locally regulated entity. Arjun Sethi, Co-CEO of Payward, highlighted the regulatory clarity in Dubai, which has attracted institutional capital and liquidity to the region. Operating under VARA means Kraken will provide services through a supervised local entity, ensuring compliance with UAE regulations. The company plans to introduce its Buy, Trade, and Earn products, with future expansions to include derivatives and lending services for qualified clients. This move is part of Kraken's broader strategy to establish regulated operations in key financial centers worldwide, providing clients with premium execution and deep liquidity across major markets.