Kraken’s parent company Payward has received full market approval from Dubai’s Virtual Asset Regulatory Authority, clearing the path for the exchange to launch in the United Arab Emirates. The announcement came on October 13, 2026, following preliminary approval in May.
Payward holds more than 100 licenses and registrations worldwide across Europe, the Americas, Asia-Pacific, and the Middle East. The Dubai approval marks a formal entry into one of the region’s most active crypto hubs.
Launch Offerings
At launch, Kraken clients in the UAE will trade spot and margin with dirham-denominated pairs and access on-chain staking. The platform will also offer xStocks tokenized equities and Krak for crypto transfers. Institutional clients will gain access to OTC spot trading and Kraken Prime, the institutional trading platform launched in 2025.
Crypto derivatives and new yield products are expected later in 2026 and into 2027, subject to regulatory approval.
Institutional Partnerships
Kraken and SoFi Technologies announced a deal routing SoFi customers’ crypto orders through Kraken Prime and listing SoFi’s stablecoin on the exchange. The partnership reflects Kraken’s strategy to position itself as a “primary account for everything,” expanding into traditional finance assets including stocks and bonds.
Recent Valuation
In September 2026, Bloomberg reported that Nasdaq Inc. invested $100 million in Payward, valuing the parent company at $21 billion. The investment underscores institutional confidence in Payward’s regulatory trajectory and market expansion across multiple jurisdictions.
