XBase Virtual Assets Broker & Dealer Services (XBase), a subsidiary of XBD Group, today announced that it has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for a Broker-Dealer Services Licence.
This approval marks the final stage before XBase begins operations, pending full authorisation — a pivotal milestone in the UAE’s rapidly expanding virtual assets and digital finance sector, and a testament to Dubai’s position as a global hub for regulated virtual asset activity.
The achievement aligns with Dubai’s broader efforts to establish a transparent and trusted virtual assets ecosystem. The emirate now leads the world’s largest licensed virtual assets market, with trading volumes exceeding AED 2.5 trillion since the start of 2025.
Zeeshan Uppal, Chief Executive Officer, XBase Virtual Assets Broker & Dealer Services, said: “Securing VARA’s In-Principle Approval marks a key milestone in our global expansion. It underscores our commitment to delivering secure, compliant, and client-focused trading infrastructure for institutional and qualified investors. We commend VARA’s transparent and progressive regulatory framework, which ensures Dubai remains at the forefront of the global digital economy.”
