Payward, parent company of Kraken, has received in-principle approval from Kazakhstan’s AFSA to offer digital asset trading and custody in the AIFC.
Payward, the parent company of crypto exchange Kraken, has received in-principle approval from the Astana Financial Services Authority (AFSA) to license Payward Kazakhstan within the Astana International Financial Centre (AIFC). Once licensed, the entity would be able to operate a digital asset trading facility, deal in investments as both principal and agent, and provide custody of digital assets. As an in-principle approval, it is a step towards the licence itself, which has yet to be granted.
Access to global order books
Traders in Kazakhstan will gain access to Payward’s global order books across markets in Europe, the US, and Asia, which the company says offer deep liquidity and reliable execution. The move forms part of Payward’s strategy to establish regulated, local operations in key financial centres and connect new markets to its core trading network, so that clients in each market trade against the same order books.
Dave Ripley, Co-CEO of Payward and Kraken, stated that the AFSA and AIFC teams had been constructive and rigorous throughout the process. According to Ripley, the company looks forward to serving clients in Kazakhstan and expanding the range of services it offers them over time.
Building a regulated global footprint
The approval follows Payward’s Full Market Approval from Dubai’s Virtual Asset Regulatory Authority, which cleared the way for Kraken’s launch in the UAE with local currency trading pairs and funding. Payward holds more than 100 licences and registrations across Europe, the Americas, Asia-Pacific, and the Middle East, and has been adding regulated entities in new markets connected to the same global trading infrastructure.
The expansion comes as Payward broadens its role beyond its own exchange. Payward is also reportedly in talks to supply crypto trading liquidity to banks and is looking to go public in 2027, following a USD 100 million investment from Nasdaq that valued it at USD 21 billion.
