Key Takeaways:
Kraken secured preliminary VARA approval to expand crypto services in the UAE.Dubai’s crypto rules are attracting exchanges as global firms seek regulatory clarity.Kraken plans UAE staking, OTC, and derivatives services pending final approvals.Kraken is preparing to deepen its presence in the Middle East after securing preliminary approval from Dubai’s Virtual Asset Regulatory Authority (VARA), marking another milestone in the United Arab Emirates’ push to become a global center for digital assets.
Sethi said operating under VARA’s 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.
Industry executives increasingly point to regulatory certainty as a key advantage for the UAE, as digital asset rules remain fragmented or politically contested in several major economies.
