Payward, the parent company of Kraken, has received full market approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to broaden its digital asset offerings within the UAE. This approval builds upon the preliminary clearance Payward obtained in May, marking a significant step forward in its regional expansion.
According to CoinTelegraph, this development enables Payward to deepen its presence in the UAE’s growing crypto sector, leveraging Dubai's regulatory framework to provide enhanced services to clients using the dirham and other digital assets.
For Japanese investors and market participants, Payward’s progress in the UAE highlights the increasing globalization of crypto services and the importance of regulatory clarity in emerging markets for digital assets.