Kraken, which launched in 2011 and operates in over 60 countries, said the UAE launch marks a wider play into an increasingly lucrative region.
The UAE transacts approximately $25 billion worth of cryptocurrency each year.
Binance was given approval to operate in Abu Dhabi in recent weeks, and will recruit for over 100 positions in the country.
Recent reports claim that crypto firms in the UAE have been deluged with requests to liquidate billions of dollars of virtual currency, as Russians seek a safe haven for their fortunes, including within Dubai’s property market, amid the war in Ukraine.