Payward, the parent company of cryptocurrency exchange Kraken, has received final approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to provide digital-asset services in the United Arab Emirates, clearing the way for a planned launch of dirham-based trading.
Approval opens path to AED trading
The approval applies to Payward FZCO, Payward’s local UAE entity. According to Cointelegraph, VARA issued the company a virtual asset service provider license on October 6. The license permits Payward FZCO to provide management and investment services, along with broker-dealer services.
Kraken said its UAE customers are expected to gain access to spot and margin trading in pairs denominated in the UAE dirham, or AED. They will also be able to make deposits and withdrawals directly, rather than relying on arrangements outside the local currency system. Payward is targeting a launch in the coming weeks, although no specific date was provided.
The authorization follows a preliminary approval granted by VARA in May 2026. Payward said the full approval allows the business to serve retail, professional and institutional investors.
Spot trading involves buying or selling an asset at the current market price, while margin trading allows customers to trade using borrowed funds. The latter can increase both potential gains and potential losses, although the announcement did not provide details about the terms that will apply to Kraken’s UAE customers.
Dubai’s licensed-provider landscape
VARA’s public register lists 58 licensed virtual-asset providers. That is an increase from the 49 active companies recorded in May 2026.
The development adds to a broader expansion of crypto-related services in the UAE, where different financial activities can fall under different regulatory regimes. In September, Standard Chartered began offering spot Bitcoin and Ether trading to institutional clients in the UAE through its Dubai International Financial Centre branch. That business is regulated by the Dubai Financial Services Authority.
In August, trading platform Capital.com announced plans to offer spot crypto services to UAE clients after its affiliate, Capital Vault, obtained a virtual-asset license from the country’s Capital Market Authority.
Payward’s authorization therefore concerns a locally licensed Kraken operation under Dubai’s virtual-asset framework. The announcement does not state which specific AED trading pairs will be available at launch.
Moneyiar market picture
Moneyiar data at the stated times shows mixed performance among the listed digital assets:
- AKEDO (AKE) was priced at $0.0245274057 at 09:49 on October 13, 2026, up 2.05% over 24 hours but down 19% over seven days.
- Mina (MINA) stood at $0.0765489863 at 09:48 on October 13, 2026, down 8.65% in 24 hours and 42.3% over seven days.
- REAL (ASSET) was priced at $0.1927052765 at 18:54 on October 8, 2026, up 3.26% over 24 hours and down 2.28% over seven days.
- Propy (PRO) stood at $0.3560995973 at 09:49 on October 13, 2026, down 0.59% over 24 hours and 4.28% over seven days.
These prices and percentage changes are Moneyiar market data and are separate from Payward’s regulatory approval.
