According to CoinMeta, the parent company of Kraken, Payward, has obtained full market approval from the Dubai Virtual Assets Regulatory Authority (VARA) and plans to launch services in the United Arab Emirates. This authorization allows Payward to operate as a regulated service provider for retail, professional, and institutional investors. Their announcement mentions support for trading in dirhams, local funding options, as well as products for individual customers and institutions entering the UAE market. Payward also plans to offer spot and margin trading upon launch, and will allow customers to access their funds directly in AED. In addition, customers will be able to access on-chain staking and tokenized stocks through Xstocks products. Payward also plans to collaborate with regional partners and will introduce crypto derivatives and additional revenue opportunities in the future, although the exact timing is still subject to regulatory approval.