TechFlow News: On May 21, according to Businesswire, Payward, the parent company of Kraken, announced it has received preliminary approval from the Dubai Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates for a brokerage, investment, and management license. Payward plans to expand its cryptocurrency business in the UAE and expects to offer spot, margin, and OTC trading, staking services, and Kraken Prime—its institutional offering—through a locally regulated entity. It will also support peer-to-peer cryptocurrency asset transfers.
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