Dubai’s Virtual Assets Regulatory Authority now lists Payward FZCO, the local entity associated with Kraken, as an active virtual-asset service provider. The public record gives readers a firmer basis for understanding the approval than a launch headline alone: it identifies the legal entity, license reference, issue date and licensed activity classes.
The register is specific about the authorization
VARA’s public register records Payward FZCO under VASP license VL/26/10/002, issued on October 6, 2026. Its status is active. The listed activities are Broker-Dealer Services and Management and Investment Services. Those details matter because a license belongs to a named entity and covers defined activities; it is not a general endorsement of every service offered under a global brand.
The date also separates the regulatory record from the later news cycle. The source report was published on October 12, while VARA lists the license as issued six days earlier. That difference is not a contradiction. It shows why readers should distinguish the date an authorization took effect from the date a company or publication announced it.
Full licensing is different from in-principle approval
VARA explains that an in-principle approval is conditional. A firm at that stage may complete final licensing requirements, but it may not begin virtual-asset activities or serve clients. Payward appears in the licensed VASP section with an active status, not in the in-principle approval section. That is the important regulatory change.
The official row is narrower than some descriptions of the planned rollout. It does not separately list Exchange Services among Payward’s licensed activities. That observation should not be stretched into a claim about whether a particular feature is available through another permitted structure. It means only that readers should check the regulator’s activity labels, the customer agreement and the product’s local availability rather than assuming that one approval covers every advertised function.
What customers should verify before using the service
A license check should begin with the company named in the terms, not just the consumer-facing brand. Customers can compare that entity with Payward FZCO, confirm the active status and reference number on VARA’s register, and identify which regulated activity applies to the service they intend to use.
They should then review the local terms for eligibility, custody, fees, asset availability and complaint handling. A product announced for a future launch may not be live for every customer on the announcement date. Likewise, access to spot trading, margin, staking, tokenized assets or payment tools can carry different contractual and risk disclosures even when presented in one application.
The practical conclusion is limited but useful: Dubai’s regulator confirms that Payward FZCO holds an active VASP license for two stated activity classes. The public listing supports the licensing claim. Product-by-product availability, timing and protections still require separate verification at the point of use.
Source: BlockchainReporter.