Kraken’s Parent Clears Dubai Regulator for Dirham Trading Launch

Kraken ’s parent company, Payward, has received regulatory approval in the United Arab Emirates, clearing the way for the exchange’s local entity to begin offering spot and margin trading to clients in the country. The development comes after the Virtual Assets Regulatory Authority (VARA) authorized Payward FZCO to provide virtual-asset services under Dubai’s framework. Payward said that when Kraken launches in the UAE, customers will be able to trade crypto using UAE dirham (AED) pairs and withdraw funds directly in AED. The company is aiming to start “in the coming weeks,” following what it describes as full market approval.

Source: Crypto Breaking News