Payward secures VARA licence as Kraken prepares UAE launch

On 12 October 2026, Kraken parent Payward announced preparations for a UAE launch after final VARA approval. The regulator’s register lists Payward FZCO’s licence as Active, issued on 6 October, for broker-dealer and management and investment services. Preliminary approval in May allowed operational preparations.

The announced plans include dirham-denominated pairs and AED deposits and withdrawals. A licensing and launch announcement does not itself confirm that every product is already available to every client.

Service plans and partnerships

According to Payward’s plans: The services that Kraken plans to offer at launch include spot and margin trading, on-chain staking, and access to xStocks, which are tokenized equities. Additionally, institutional clients will benefit from over-the-counter (OTC) spot trading and access to Kraken Prime, the company's prime brokerage service. The introduction of crypto derivatives and new yield products is also on the horizon, with expectations for these offerings to roll out later in 2026 and into 2027, pending further regulatory approvals.

On 10 September, Payward announced Nasdaq Ventures’ agreement to invest $100 million and further work on Nasdaq Equity Tokens (NETs). NETs are expected to launch in the second quarter of 2027. This is a separate project, not confirmation of availability at Kraken’s UAE launch.

In addition to the partnership with Nasdaq, Payward has also entered into a collaboration with SoFi Technologies. This agreement will enable SoFi customers to route their cryptocurrency orders through Kraken Prime, further integrating Kraken's services into the traditional financial ecosystem. Moreover, SoFi's stablecoin is expected to be listed on the Kraken exchange, expanding the range of digital assets available to users.

Primary sources: VARA; Payward · 12.10.2026; Nasdaq · 10.09.2026; SoFi · 03.09.2026.