Payward Unit Gains Initial Kazakh Approval for Digital Asset Services
Kraken parent Payward's local unit, Payward Kazakhstan, received in-principle approval from the Astana Financial Services Authority, moving it closer to offering digital asset trading and custody in the AIFC.
Initial Regulatory Nod in Astana
Payward Kazakhstan, the local subsidiary of cryptocurrency exchange Kraken's parent company, Payward, has secured in-principle approval from the Astana Financial Services Authority (AFSA). This regulatory step brings the unit closer to obtaining a full operating licence within the Astana International Financial Centre (AIFC).
While this initial approval is not a complete licence, it marks a significant advance for the company's expansion plans in the Central Asian nation. Payward has not yet specified a timeline for receiving the full licence or commencing its operations.
Planned Digital Asset and Investment Offerings
Upon securing its full licence, Payward Kazakhstan intends to establish a digital asset trading facility. The unit also plans to provide custody services for digital assets. Furthermore, it aims to engage in investment activities, managing assets both for its own portfolio and on behalf of clients.
These offerings would broaden the financial services landscape available within the AIFC, providing new avenues for digital asset engagement.
Expanding Access to Global Markets
The move will allow traders in Kazakhstan to access Payward’s extensive global orderbooks. These orderbooks currently facilitate trading across markets in Europe, the United States, and Asia. Dave Ripley, Co-CEO of Payward and Kraken, acknowledged the constructive engagement with the AFSA and AIFC teams throughout the approval process. He stated the company looks forward to serving clients in Kazakhstan and expanding its service offerings over time.
Strategic Push for Regulated Operations
Payward views this development as part of a wider strategy to build regulated, local operations in key financial centres globally. The company aims to integrate these new market presences with its existing core trading network.
This approach supports Payward’s objective of establishing a compliant and interconnected digital asset ecosystem across various jurisdictions, including the growing Central Asian market.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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