Payward receives in-principle approval to expand Kraken into Kazakhstan

Payward, the parent company of the cryptocurrency exchange Kraken, has received in-principle regulatory approval from the Astana Financial Services Authority (AFSA) to expand its operations into Kazakhstan.

The preliminary approval allows the proposed Payward Kazakhstan subsidiary to operate within the Astana International Financial Centre (AIFC). The permissions cover a range of services, including operating a digital asset trading facility, dealing in investments as both principal and agent, and providing digital asset custody services.

Once final authorization is secured, the company intends to connect Kazakh traders to its global liquidity network and order books. While the announcement marks significant progress in the licensing process, Payward must still satisfy remaining regulatory requirements and conditions set by the AFSA before it can officially commence licensed activities. No specific launch date for local services has been provided.