Kraken secures preliminary VARA approval for Dubai launch

Dubai's Virtual Asset Regulatory Authority has granted preliminary authorization to Kraken's parent company to operate as a broker-dealer and investment manager in the emirate. The approval paves the way for the crypto exchange to expand its services in the United Arab Emirates.

The license covers broker-dealer and investment management activities. Kraken's parent company, Payward, is now preparing to launch operations in the UAE with funding in AED. Plans include over-the-counter trading, margin trading, and services tailored for institutional clients.

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Illustration of Payward executive applying for OCC trust charter with crypto elements in a government office.
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Kraken parent Payward applies for OCC national trust charter

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Payward, the parent company of crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency. The filing seeks to expand regulated custody services for digital assets. It builds on the firm's existing Wyoming banking subsidiary.

Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Hong Kong-based Reap Technologies for up to $600 million in a cash-and-stock deal. The transaction values Payward at $20 billion and represents the company's largest acquisition to date.

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Payward, the parent company of cryptocurrency exchange Kraken, has filed legal action against PowerTrade, alleging the firm misappropriated more than $6 million in digital assets.

Dinari and tZERO announced a partnership Wednesday to create a turnkey platform for tokenized U.S. equities aimed at broker-dealers. The move comes as the tokenized stock market reached $2.16 billion after growing 471 percent over the past year.

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Nigeria, South Africa and Kenya have introduced licensing regimes for digital assets after years of restrictions. The changes follow rapid growth in stablecoin use for remittances and payments across the continent. Between July 2024 and June 2025, Sub-Saharan Africa processed more than $205 billion in on-chain value.

Solana-based decentralized exchange Orca has rolled out permissioned pools that let approved investors trade regulated tokenized assets onchain. The first asset to use the system is Streamex's gold-linked security GLDY.

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Taiwan’s Legislative Yuan passed the Virtual Asset Service Act on June 30, creating the country’s first licensing framework for stablecoin issuers and other virtual asset providers.

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