Kraken Parent Payward Wins In-Principle Approval For Kazakhstan Expansion

TL;DR: Payward has received in-principle approval for a Kazakhstan business covering digital asset trading, dealing and custody in the AIFC. Final licensing conditions remain relevant, and the announcement gives no customer launch date. Kraken parent Payward has moved closer to establishing a regulated business in Kazakhstan, with preliminary approval for several activities rather than trading alone. In an October 22 announcement, Payward said the Astana Financial Services Authority had granted in-principle approval to license Payward Kazakhstan in the Astana International Financial Centre. The proposed permissions cover operating a digital asset trading facility, dealing in investments as principal and agent, and digital asset custody. The company also said Kazakh traders would gain access to its global order books. It did not give a date for the local service to open. For prospective local customers, the distinction between that plan and a completed launch is the most immediate detail. The License Still Has A Final Stage AFSA’s authorization guide explains that in-principle approval sets out conditions and recommendations an applicant must satisfy before receiving its license. Th...