Overview
- Payward announced on Thursday, May 21, 2026, that Dubai’s Virtual Assets Regulatory Authority granted preliminary broker‑dealer and investment management authorization to its locally registered Payward FZCO.
- The authorization permits the firm to prepare spot trading, margin trading, over‑the‑counter (OTC) services, staking and institutional access through Kraken Prime in Dubai.
- Payward says it will enable UAE clients to fund and withdraw in dirhams (AED) through the local subsidiary to provide a regulated on‑ramp to Kraken’s global liquidity pools.
- Company statements make clear there is no confirmed public launch date and that retail availability and some products will only be offered after additional VARA approvals and retail‑access rules are satisfied.
- The Dubai clearance extends Kraken’s UAE strategy that began with Abu Dhabi free‑zone approval in 2022 and reflects the company’s view that Dubai’s written rulebook is attracting institutional capital and liquidity to the emirate.