XBASE Virtual Assets Broker & Dealer Services LLC, operating as Relm and a subsidiary of XBD Group, has received its full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
The license authorises Relm to operate as a regulated virtual assets broker-dealer in the UAE, permitting the company to provide compliant digital asset trading and over-the-counter (OTC) services to institutional clients, enterprises, and qualified counterparties operating in and through the region.
This approval follows Relm’s successful completion of VARA’s licensing process, including its earlier In-Principle Approval (IPA), and confirms that Relm has met all regulatory, governance, risk, and operational requirements under Dubai’s virtual assets framework.
With the issuance of the VASP license, Relm is now authorised to onboard clients and commence regulated operations from Dubai, operating within VARA’s comprehensive regulatory framework that has positioned the Emirate as one of the world’s leading jurisdictions for compliant digital asset activity.
Zeeshan Uppal, CEO at Relm UAE, said: “Receiving our full VARA VASP license is a major milestone for Relm and a clear validation of our compliance-first approach. The UAE has set a global benchmark for regulating digital assets, with clarity, rigor, and ambition. VARA’s framework gives institutions the confidence to deal with digital assets at scale, and we are proud to be part of that ecosystem as a fully licensed broker-dealer.”
“Dubai continues to lead the future of digital trade by creating a setting where innovation and regulation move together. This license allows Relm to support enterprises, corporations, funds, and family offices with secure, transparent, and institution-grade access to digital asset markets, without regulatory uncertainty”, he added.
Relm’s regulated offering will focus on OTC crypto trading, broker-dealer services, and enterprise-grade digital asset execution, designed for professional market participants seeking compliant exposure to digital assets and crypto-native liquidity.
Under VARA’s supervision, Relm contributes to the UAE’s growing digital economy and supports Dubai’s goal to become a global hub for virtual assets, financial innovation, and cross-border digital commerce.