The development marks a new phase in the exchange’s efforts to establish a regional presence. The license opens access to digital asset services for individual and institutional investors. It also strengthens Kraken’s plans to introduce more trading and investment products in the UAE.

Kraken’s parent company, Payward, obtained a full crypto brokerage, management, and investment license from Dubai’s Virtual Assets Regulatory Authority (VARA). The approval follows preliminary authorization granted several months earlier.

The license allows Kraken to onboard retail and institutional clients under Dubai’s virtual asset regulatory framework. It also supports the exchange’s return to a market where its earlier expansion efforts faced setbacks.

Kraken first entered the UAE market through Abu Dhabi in 2022. However, the company later withdrew from that operation and reduced its regional presence.

The latest authorization marks a renewed expansion effort, with Kraken preparing services tailored to UAE investors.

Kraken expands UAE trading services with AED fiat pairs

Kraken plans to offer spot and margin trading products with trading pairs denominated in UAE dirhams. Customers will also be able to deposit and withdraw funds directly in AED.

These services will allow local investors to access cryptocurrency markets without relying exclusively on foreign currency funding.

Beyond trading, Kraken will introduce on-chain staking services, giving eligible customers access to supported blockchain staking opportunities.

The exchange will also provide access to xStocks, its tokenized stock offering, alongside Krak, its cryptocurrency transfer platform.

Meanwhile, institutional investors will gain access to additional services through Kraken’s over-the-counter trading desk and Kraken Prime.

These offerings will serve clients seeking institutional trading, liquidity access, and digital asset management services.

Arjun Sethi, co-CEO of Payward and Kraken, said UAE customers would access the exchange’s existing global trading infrastructure.

“From launch, clients in the UAE get the same order book and multi-asset coverage we run in every other market,” Sethi said.

He also highlighted Dubai’s regulatory framework as an important component of the company’s regional expansion strategy.

According to Sethi, Payward’s regulatory infrastructure connects UAE clients directly with Kraken’s liquidity and expanding digital asset offerings.

Kraken targets Crypto derivatives and yield products in the UAE

Kraken plans to expand its UAE product range beyond the services covered by its initial launch.

The company expects to introduce cryptocurrency derivatives and additional yield-generating products in late 2026 or early 2027.

However, Kraken said these future offerings will require approval from Dubai’s Virtual Assets Regulatory Authority before their introduction.

The planned expansion follows Kraken’s earlier attempt to establish a lasting presence in the Emirates.

Its 2022 Abu Dhabi entry ended with a withdrawal and a reduction in local operations.

Through Payward’s latest authorization, Kraken can now serve both retail and institutional customers within Dubai’s regulatory framework.

For now, the company will focus on spot trading, margin products, staking, tokenized stocks, and institutional services.

Kraken has not announced specific launch dates for its planned derivatives and additional yield products. Their availability will depend on subsequent regulatory approvals.

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Swedish police simultaneously picked up six other suspected members of the fugitive’s gang. The seven arrests were announced on Thursday by the UAE Ministry of Interior. UAE authorities noted that they arrested a Swedish national who had left his country and was the target of an Interpol Red Notice over suspected money laundering. UAE security forces located him after what the ministry described as extended searches and surveillance. He was arrested at the same moment Swedish officers detained six other members of his gang. None of the seven has been publicly named, but legal proceedings have been opened against all of them.

UAE says the suspect had a red notice from Interpol

Over roughly 10 months, the group handled about 70 million Swedish krona, about 26.5 million dirhams and nearly $7.1 million. The network collected cash generated by their crimes, passed it along to other criminal actors, then used cryptocurrencies to move and hide the value of that money. The ministry said in its statement that it traced the group’s transactions and analyzed the digital evidence.

It mentioned that this helped them to discover if the group was connected to other criminal activities like organized crime and contract killings. The caution is not unfounded; Swedish police reported back in May that gangland shootings had killed 23 bystanders and wounded 30 over three years, with gangs recruiting paid killers who are often teenagers below the age of criminal responsibility, through social media and encrypted apps. The country’s justice minister last year told forces to seize more illicit digital assets.

Both the UAE and Swedish governments framed the outcome as a product of direct coordination. Anders Wiberg, police commissioner and head of the international division of the Swedish Police Authority, called cooperation with the UAE “a key factor in achieving the successful outcome of this case.” Brigadier Abdulaziz Al Ahmad, director general of the Federal Criminal Police at the Ministry of Interior, said the UAE “reaffirms its firm commitment to pursuing individuals wanted by justice and combating transnational organized crime.”

He also pledged to keep disrupting criminal financing. The UAE has recently handed over several Interpol-flagged fugitives. The country is also relying harder on virtual-asset tracing tools inside its anti-money-laundering system.

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Emirates Airlines is utilizing Crypto.com’s Pay solution to allow its customers to carry out payments on its website and application, with transactions processed in compliance with UAE regulatory standards. Crypto.com Pay is available to eligible UAE residents.

According to the statement, UAE residents can make bookings priced and settled in UAE fiat currency, the AED. Earlier this year, Crypto.com, through its UAE entity, Foris DAX Middle East FZE, received a Stored Value Facilities (SVF) license from the Central Bank of the UAE, allowing it to offer crypto payments in the UAE. Adnan Kazim, Emirates Airlines Deputy President and Chief Commercial Officer, noted that this initiative expands their commitment to customer choice in how they pay for travel, reflecting the preferences of a younger generation who use their phones.

Emirates Airlines launches new payment option in UAE

In his statement, Kazim said, “Moving from signature to launch with Crypto.com in under a year is a credit to both teams and to a regulatory environment that makes this kind of innovation possible, reflecting the UAE’s and Dubai’s ambition to lead in fintech and the digital economy.” Eric Anziani, President and Chief Operating Officer, noted that this partnership is a milestone for Crypto.com and is a testament to the UAE’s forward-thinking approach to innovation.

When customers use the website emirates.com or the Emirates application, they can opt for Crypto.com Pay at checkout and can complete the payment using their wallet on their phone or a QR code on a desktop and then approve the payment using the application. Once payment is approved, the booking is confirmed, and an e-ticket is issued on their screen. The service is part of Dubai’s Cashless Strategy under the D33 Economic Agenda. It aims to make 90 percent of all financial transactions across government and private sectors digital by the end of 2026.

Emirates Airlines joins only three other airlines globally in crypto payments, and they are airBaltic from Latvia, Vueling in Spain, and Peach Aviation in Japan. It is noteworthy that it will be Crypto.com’s entity that will accept the payments and then exchange them into either an AED stablecoin or an AED fiat currency to Emirates Airlines. This is because the UAE Central Bank only accepts regulated AED stablecoins or AED fiat currency for the payment of goods and products in the country.

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With the development, the firm has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial center of Abu Dhabi. As per the announcement, the FSP marks the completion of a thorough, multi-stage licensing process and enables the Bitcoin Suisse subsidiary to deliver a comprehensive suite of regulated digital asset financial services to institutional and professional clients in the UAE.

Bitcoin Suisse to bring experience to the UAE

Bitcoin Suisse has more than 10 years of experience in the digital asset space and seeks to bring this experience to the UAE. Already, the group custodies $3.7 billion in crypto assets and is the fourth-largest staking operator globally. With the license in hand, institutional and professional clients can access a regulated digital asset financial infrastructure designed for sophisticated needs, including managing and hedging digital asset exposure, in a fully compliant environment, with institutional-grade custody, and trading approved virtual assets.

In the future, the Bitcoin Suisse subsidiary will support clients in accessing tokenized real-world assets. According to Ceyda Majcen, Chief Executive Officer and SEO of BTCS ME, the FSP license from FSRA is a major milestone in their international growth plans. He explained that the authorization was a reflection of their decade of experience in building resilient infrastructure, risk frameworks, and trusted client relationships.

He added that Bitcoin Suisse is excited to bring our unique combination of institutional-grade capabilities and highly personalized service to the UAE, one of the world’s most dynamic hubs for digital assets. Arvind Ramamurthy, Chief Market Development Officer at ADGM, congratulated Bitcoin Suisse on the license and its expansion into ADGM, noting that its expansion reinforces the strength and maturity of its digital assets ecosystem.

He added, “As Abu Dhabi further strengthens its position as a leading financial hub in the region, ADGM remains committed to enabling innovation within a robust, internationally recognized regulatory environment.” Two weeks earlier, Bitcoin Suisse (Europe) AG received its crypto asset service provider (CASP) license from the Liechtenstein Financial Market Authority under MiCAR. The European entity of Bitcoin Suisse is now able to serve clients across selected EEA markets, with Roman Przibylla appointed CEO to lead the expansion.

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According to the announcement, the transaction represents a defining milestone for the DDSC stablecoin ecosystem, demonstrating operational readiness, scalability, and real-world applicability at institutional volume. DDSC was launched to be utilized by institutions and governmental entities for payments and collections, settlements, treasury operations, trade and supply chain flows, as well as programmable financial services for regulated entities.

FAB clients to use UAE dirham-backed stablecoin

DDSC is a UAE dirham-backed stablecoin launched following the strategic collaboration between IHC, First Abu Dhabi Bank (FAB), and Sirius International Holding, and supported by ADI Foundation’s blockchain infrastructure. The initiative was established to support secure, compliant, and efficient digital transactions for institutions, businesses, and individuals, while enabling seamless value transfer and settlement across global markets.

The $30 million transaction using DDSC is a validation that the infrastructure is sound and is now ready to move to live deployment. The DDSC AED stablecoin will now be used by clients of FAB for cross-border payments, treasury operations, and trade settlements. The UAE is utilizing AED stablecoins for more efficient, transparent payment rails, ensuring quicker and more transparent cross-border payments. Syed Basar Shueb, CEO of IHC, noted that the transaction is a demonstration of the UAE’s live digital infrastructure and can support real institutional financial activity.

He added, “As one of the founding participants in the DDSC ecosystem, IHC is committed to advancing solutions that improve how capital moves across markets. Executing 110 million ($30 million) DDSC on ADI Chain is a clear signal that we are entering the next phase, where institutional-grade digital assets are not only viable, but operational at scale.” The next phase will add more institutions and the development of cross-border payment and trade corridors connecting the Middle East with key global markets.

The DDSC AED stablecoin is not the only stablecoin that has been approved so far by the Central Bank of UAE. The first AED stablecoin to be approved was the AE Coin by Al Maryah Community Bank, better known as Mbank, while Zand Bank has also received a license for AEDZ, which is the UAE’s first regulated multi-chain AED-backed stablecoin on public blockchains. The UAE Central Bank also approved a USD-backed stablecoin, USDU, to be used as a foreign payment token and an FSRA-regulated fiat reference token.

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Innovation City and IOPn are moving companies towards the 21st century by making them live entities on a blockchain and not on paper, PDF, or database, but rather on an immutable, soul-bound digital asset. The benefit is less reliance on centralized intermediaries and more certainty in verifications, aligned with UAE’s national strategy of digitization using blockchain, AI, and other technologies. This comes as the UAE government has just announced its bold directive to transition 50% of federal government sectors, services, and operations to Agentic AI within two years.

UAE seeks to process cross-border interaction at machine speeds

According to reports, this development will enable those intelligent agents to autonomously process licenses, permits, compliance checks, taxation, and cross-border interactions at machine speed. Paul Dawalibi, CEO of Innovation City, noted that Innovation City is no longer just registering companies but giving them a soul on the blockchain. “For decades, business identity has been trapped in paper, PDFs, and fragile databases – slow, opaque, and built for a world that no longer exists. We are ending that era,” he said.

Dawalibi added that every enterprise in Innovation City now carries a living, verifiable digital identity that travels with it across borders, platforms, and straight into the age of intelligent agents. The benefits of the blockchain-powered registration process will bring transparency and audibility, ensuring that ownership changes, compliance updates, and verifications are permanently recorded and publicly auditable.

This means that bank regulators, investors, and AI agents can confirm the authenticity of registration in seconds, and also ensure a reduction in document fraud. Mojtaba Asadian, CEO of IOPn, added: “IOPn is the sovereign infrastructure layer enabling the UAE’s agentic AI economy, starting with business identity and built to scale across jurisdictions, institutions, and sectors. Cryptographically secure.” He explains that when Innovation City chose OPN Chain, they chose an infrastructure of digital sovereignty that is verifiable and alive on-chain.

The entire blockchain solution is AI native as it has the exact infrastructure required for agentic AI to operate at government scale. Furthermore, given that the platform is built on a high-performance, EVM-compatible Layer 1 (10,000+ TPS, sub-second finality), it is compatible with other systems. Already, research has indicated that the agentic AI market will grow from $5.25 billion to nearly $200 billion between 2024 and 2034. Blockchain will be a very important element in the system as these AI agents will need to be verified somehow, and with blockchain-based identification, issues can be resolved.

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This comes months after it received its in-principle approval for Stored Value Facilities and Retail Payment Services licenses from the Central Bank of the UAE. At the time, Revolut noted that this was a significant achievement, signaling its plans to launch in the UAE to offer a comprehensive product experience to retail customers.

Revolut kickstarts search for crypto technology officer amid move to the UAE

The job post notes that the crypto technology manager is part of the technology team that will build the systems and experiences that keep Revolut moving forward. “We’re looking for a Technology Manager to support our crypto expansion in the UAE, focusing on technology risk, operational resilience, and regulatory readiness,” the company said.

The crypto technology manager will work not only with Revolut’s internal engineering, product, operations, and compliance teams but with local regulators as well to ensure their crypto platforms operate in line with UAE regulatory requirements. The role entails implementing and maintaining a technology and operational risk framework for crypto activities in the UAE.

In addition, the officer will ensure compliance with ICT regulations and requirements, and support crypto licensing and regulatory engagement with local authorities (e.g., Central Bank of the UAE, VARA, DFSA, FSRA). The candidate is expected to have experience in financial services, fintech, crypto/digital assets, and knowledge in the blockchain domain. Currently, Revolut allows users to buy, sell, and hold over 175 cryptocurrencies directly within its app.

The platform offers features like instant exchanges, automatic “round-up” investing, and advanced trading via the specialized Revolut X platform. It recently partnered with Trust Wallet to offer enhanced, low-fee purchasing options for users. In November, Ambareen Musa, Head of Revolut in GCC, noted the firm is in “day zero build mode” in the UAE, completing governance and licensing requirements, and is hopeful for an upcoming launch subject to regulatory approval.

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Gaël Itier, CEO of Vancelian, has noted on their website that their mission is to shift savings and investment into the finance of tomorrow. The company is using DeFi (decentralized finance) and Blockchain, soon to be integrated with AI, to offer personalized advice. Presently, the company has 100 million Euros under management and has paid 7 million Euros in interest. On their website, they noted that they are present in Europe and the UAE.

Dubai regulator grants in principle license to Vancelian

Additionally, the company offers various investment products, including a Crypto Basket, which is a simple investment solution that allows you to buy, in a single operation, several cryptocurrencies selected for their solidity and market dominance. Rather than manually choosing each asset, the user invests in a predefined set of cryptocurrencies grouped within one basket.

Recently, Vancelian carried out an investment round in its first real estate project in Bali, and presented a second opportunity in Dubai, leveraging blockchain and crypto assets to open up access to investments. The company is also offering co-financing in digital assets, enabling investors to participate in projects that acquire or renovate tangible assets, particularly in real estate, while earning a return.

At the time, Gaël Itier, CEO and co-founder of Vancelian, said, “Our innovation is based on the possibility of investing without a minimum entry ticket in projects that were previously reserved for large investors. This is a strong promise at a time when the boundary between traditional finance and crypto-assets is blurring. This milestone marks a major step forward for Vancelian, ahead of the launch of fully tokenised offerings, paving the way for a new generation of financial products.”

Vancelian used Bali as a successful testing ground, launching its range of Exclusive Offers at the end of the third quarter, with the funding of seven luxury villas in Bali. Investors participated in the operation via a Bitcoin-backed cryptocurrency loan, offering them an average fixed return of 10% per annum, adjusted according to their status within the Privilege programme.

The offering also provides daily payment of interest, allowing immediate liquidity. Customers are free to use their earnings directly via the Vancelian Visa card or reinvest them in new opportunities. In Dubai, Vancelian is launching its second project, the Nest-Al Barari, a prestigious villa. The aim is to combine financial innovation, secure returns, and rare luxury real estate in the heart of a sought-after destination for property investment.

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The Laser Carry Fund, when tokenized and licensed by VARA, will become the first institutional-grade RWA tokenized product offering under the regulator. Each Tokenized LCF (TLCF) token will offer exposure to tokenized units of the Laser Digital Carry Fund SP, a Cayman Segregated Portfolio. The token will be available on one or more public blockchains through KAIO, while Komainu will act as the VARA-licensed custodian for the tokenized fund units.

The token will also be made available on secondary markets on exchanges chosen by VARA Dubai. Jez Mohideen, Co-founder and CEO of Laser Digital, mentioned that the approval was a key step in responsibly delivering institutional-grade and composable RWA products to investors. “We’re pleased to launch this product under VARA, building upon our shared commitment to higher governance and robust investor policies in active on-chain asset management,” he added.

Users can subscribe and redeem the token during pre-set windows, with pricing linked to LCF’s net asset value. Secondary trading will be enabled on selected exchanges and trading venues, subject to necessary compliance controls. LCF token is the first of a series of RWA asset management tokens built on the VARA ARVA Framework, with further upcoming plans to expand the offering to other institutional asset management products.

VARA approves tokenized funds as QNB launches tokenized market fund

Earlier this year, QNB Group (Qatar National Bank), Standard Chartered, and DMZ Finance, an RWA tokenization infrastructure provider, announced the launch of the Dubai International Financial Center’s (DIFC) first regulated tokenized money market fund, the QCD Money Market Fund (units in QCDT). The fund’s underlying investment is managed by QNB Group, the largest bank in the Middle East and Africa.

DMZ Finance served as co-initiator and exclusive provider of tokenization infrastructure. At the time, the fund announced that Capricorn Fund Managers (DIFC) Limited (CFMD) would act as the fund manager, while Standard Chartered serves as custodian of the QCD Money Market Fund, providing custody of the underlying assets. In 2024, Standard Chartered officially launched its regulated digital asset custody services in the DIFC.

Soon after, Bybit became the first crypto exchange to deploy QCDT as collateral, creating up to USD 1 billion in borrowing capacity, providing new opportunities for institutions. Meanwhile, in Bahrain, ATME, the crypto and digital asset exchange licensed by the Central Bank of Bahrain (CBB), also introduced a regulated tokenized investment product platform that enables brokers and asset managers to issue and trade investment products directly on its platform.

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In the announcement, the Dubai government noted that while digital asset transactions across regulated entities in the whole of 2025 hit $680 billion, virtual assets under management exceeded $2.6 billion in 2025. The figures were driven by an increase in participation of large institutional players in the crypto industry. During the meeting, it was revealed that the digital assets industry contributes about 0.5% to Dubai’s GDP, which is equivalent to about $500 million.

Licensed crypto market in Dubai hit milestone figure

Under the VARA regime, the ecosystem is expected to scale responsibly and reach around 3% GDP, an equivalent of around $3.5 billion. HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, in a LinkedIn Post, stated, “Dubai currently stands as the world’s single largest licensed virtual assets market, with more than 40 licensed virtual asset service providers and trading volumes reaching AED 2.5 trillion since the beginning of the year.”

He also commended the role of Dubai’s VARA in promoting transparency and solidifying the emirate’s standing as a global hub for digital assets. The city also hosts 600 registered service providers engaged in advisory, technology, or proprietary trading activities that do not require full regulation. These achievements were highlighted as H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum chaired a meeting of the committee.

Financial Sector Strategy kicks off

During the meeting, the Dubai Financial Sector Strategy was also approved. The strategy is a comprehensive roadmap designed to solidify the country’s position as a leader in the crypto space. Its key goals are to double the financial sector’s contribution to the emirate’s GDP and grow the size of assets under management. Under the strategy, there are plans to launch 15 transformative programs over a three-year period with opportunities for investors.

It also aims to improve market activity by encouraging the listing of more family businesses and startups. In addition, it is expected to aid growth in the asset and wealth management sector by developing legislation and policies that attract new asset managers and family businesses. The strategy also focuses on enhancing the role of small and medium enterprises in the national economy by developing innovative financing models that expand access to capital, ensuring the sustainability of SMEs, and increasing their contribution to GDP.

In attendance at the meeting were Mohammad Al Gergawi, Vice Chairman of the Committee; Mohamed bin Hadi Al Hussaini, Omar Sultan Al Olama, Helal Saeed Al Marri, Essa Abdulfattah Kazim, Faisal Yousef bin Sulaitin, Fadel Abdulbaqi Al Ali, His Excellency Saeed AlEter, and Huda Sayed Naim Al Hashimi, Secretary General of the Committee. The Higher Committee for the Development of the Economic and Financial Sector aims to endorse high-level economic and financial policies and strategies that support the realization of the Dubai Economic Agenda D33.

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