Payward Secures Dubai License and Plans UAE Launch for Kraken

Payward Inc., the parent company of the cryptocurrency exchange Kraken, has announced plans to launch its operations in the United Arab Emirates after receiving full market approval from Dubai's Virtual Asset Regulatory Authority. This regulatory approval allows Payward to function as a regulated virtual asset service provider, catering to retail, professional, and institutional investors.

The approval follows a preliminary license granted in May, which enabled Payward to set up its operations in the region. At the launch, Kraken clients in the UAE will have the ability to trade spot and margin with dirham-denominated pairs and manage their funds directly in dirhams. Additional features will include on-chain staking, tokenized equities through xStocks, and services for institutional clients such as OTC spot trading and Kraken Prime.

Payward's expansion into the UAE is part of a broader strategy that has seen the company secure over 100 licenses and registrations worldwide. Recent reports indicate that Payward is also in discussions to acquire a European bank, potentially enhancing its financial services and regulatory capabilities.

As part of its growth strategy, Payward has been involved in several significant deals, including a $100 million investment from Nasdaq and a partnership with SoFi Technologies to facilitate crypto orders through Kraken Prime. The company aims to integrate various financial services, positioning itself as a comprehensive platform for trading, banking, and asset management.

New Developments in Payward's Expansion

• Payward, the parent company of Kraken, is acquiring Saldo Finance, the parent company of Saldo Bank, which is a licensed lender in the EU.
• The acquisition was announced on October 14, 2026, with the deal expected to close in 2027, pending regulatory approvals.
• Saldo Bank operates in Lithuania, Finland, Sweden, and Germany, and holds permissions in the Netherlands.
• As of 2025, Saldo Bank reported a net profit of €0.96 million, recovering from a loss of €2.39 million in 2024.
• With a loan portfolio valued at €124 million, Saldo Bank provides Payward a regulated foundation for offering banking services across the European Economic Area.
• The acquisition aims to integrate lending and card services into Payward's offerings, potentially leading to further mergers and acquisitions in the fintech space.