TREE NEWS update: Payward, the parent company of crypto exchange Kraken, has received full market approval from Dubai’s Virtual Assets Regulatory Authority to expand its digital asset services in the UAE. The full licence follows the preliminary approval the company secured in May and clears the way for a dirham trading rollout.
Kraken Parent Payward Wins Full Dubai VARA Approval for Dirham Trading
AI take
The full licence matters less as a compliance milestone than as a signal that Dubai's VARA is willing to convert preliminary approvals into operational ones for large international groups, which shortens the regulatory path for peers already in the pipeline. The dirham trading rollout is the substantive piece: local-currency pairs are what turn a venue from a crypto-only platform into something usable by regional businesses and payment flows. Whether other exchanges with pending VARA applications follow at the same pace is the open question.
Generated by AI for reference only.
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