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.
