Kraken Secures Preliminary VARA License for Dubai Re-Entry, Full Approval Pending

As of May 25, Kraken’s parent Payward holds preliminary VARA broker-dealer and investment-management authorization granted May 21, enabling spot, margin, OTC trading, staking and Kraken Prime services for UAE clients. The firm exited Abu Dhabi’s ADGM regime in 2023 and is now returning under Dubai’s framework alongside Binance, OKX and Crypto.com. AED deposits and withdrawals will launch after a full operational license, expected within 3–6 months, while derivatives and lending require separate approvals. The development is expected to increase regional liquidity and institutional flows. BTC last traded at $74,547, down 3.66%.