According to CoinMeta, the parent company of Kraken, Payward, has received final regulatory approval from Dubai and plans to launch spot and margin trading, staking, Xstocks, Krak transfer services, institutional-level over-the-counter (OTC) spot trading, and Kraken Prime services in the United Arab Emirates (UAE) within the next few weeks, all denominated in UAE dirhams (AED). The cryptocurrency derivatives business, however, is still awaiting regulatory approval.