Kraken secures Dubai regulatory approval

Payward>>>, the parent company of crypto exchange Kraken>>>, has received preliminary regulatory approval from United Arab Emirates — Dubai>>>'s Pakistan — Drug Regulatory Authority of Pakistan>>> (VARA). This authorization allows Kraken>>> to expand its regulated cryptocurrency services across the United Arab Emirates>>>. The planned offerings include spot, margin, and OTC trading, staking, and institutional services through Kraken Prime. United Arab Emirates>>> clients will also be able to fund and withdraw in dirhams through a locally regulated Payward>>> subsidiary, connecting them to Kraken>>>'s global orderbooks across Europe>>>, the United States>>>, and MSCI Asia Pacific Index>>> markets. This move is part of Kraken>>>'s international strategy to build regulated operations in major financial hubs. The approval reinforces United Arab Emirates — Dubai>>>'s position as a leading jurisdiction for compliant crypto infrastructure, attracting global firms like Kraken>>>. This development comes as Payward>>> reportedly postponed its anticipated United States>>> IPO to 2027, focusing on AI integration and operational restructuring, and recently acquired China — Hong Kong>>>-based Reap Technologies>>>.