Payward secures full VARA regulatory approval in Dubai, marking a significant expansion for Kraken's digital asset operations and enabling direct dirham trading in the UAE market.
Payward has successfully secured full market approval from Dubai’s Virtual Assets Regulatory Authority (VARA), marking a significant milestone in its regional expansion strategy. This regulatory clearance allows the company to broaden its digital asset service offerings within the UAE, specifically facilitating the integration of dirham-denominated trading pairs for its users.
It grants the company full authorization to expand its digital asset services and offer dirham trading within the UAE.
Payward received preliminary approval from VARA in May.
Payward, the parent company of crypto exchange Kraken, has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This milestone allows the firm to expand its digital asset services and introduce direct dirham trading for users across the United Arab Emirates.
It grants the company full regulatory clearance to operate and expand its digital asset services within the UAE, including the ability to offer direct trading against the local currency.