Kraken's Parent Payward Wins Preliminary VARA Approval to Expand into Dubai!

Payward, the parent company of crypto exchange Kraken, has secured preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA), marking a significant step in the exchange's push into the Middle East. VARA, established under Dubai Law No. 4 of 2022, is one of the most structured crypto licensing frameworks in the world, and a preliminary green light from the regulator is a meaningful threshold on the path to full operational status.

For Kraken, Dubai represents a strategically important hub — the emirate has aggressively positioned itself as a global crypto capital, attracting institutional and retail crypto businesses alike. A VARA-licensed presence would give Payward regulated access to a fast-growing regional market and a credible foothold for broader MENA expansion.

The preliminary approval does not yet confer full trading or custody permissions, but it signals…