Kraken's parent company Payward has received preliminary approval from Dubai VARA to conduct cryptocurrency business
According to Businesswire, Kraken's parent company Payward announced that it has received preliminary approval for brokerage, investment, and management licenses granted by the Dubai Virtual Assets Regulatory Authority (VARA), and will expand its cryptocurrency business in the UAE. Payward expects to offer spot, margin, and OTC trading, staking services, and Kraken Prime services for institutional clients through a locally regulated entity, as well as support for peer-to-peer cryptocurrency asset transfer functionality.
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