Dubai has advanced its goal of becoming a global digital asset center with the Virtual Assets Regulatory Authority (VARA) issuing a complete cryptocurrency brokerage license to XBASE.
XBASE received approval to provide brokerage services and execute over-the-counter (OTC) virtual asset trades. The approval will serve institutional and qualified investors as their main customer base.OTC trading enables large-volume transactions to be executed privately. Thus, helping to reduce market disruptions and price fluctuations.
The license is the result of a regulatory process that began with initial approval in October 2025. XBASE now possesses the right to conduct its business operations across Dubai's entire authorized cryptocurrency framework after meeting all necessary compliance standards. The company delivers secure, large-scale cryptocurrency transaction services to high-net-worth individuals and institutional clients within the RELM Group.
The development demonstrates how quickly Dubai's authorized virtual asset industry has developed since it first began. XBASE is now part of the growing group of organizations that hold VARA licenses, as the authority has approved its licensing application. The system enables the emirate to establish a digital asset environment that combines structured systems with transparent operations.
The Virtual Asset Regulatory Authority (VARA) establishes regulatory frameworks that control virtual asset activities throughout Dubai. The system requires investor protection while providing operational clarity and compliance with global standards. The approach has attracted international businesses because it provides them with both regulatory transparency and stable operations.
The current regulatory changes in Dubai demonstrate how the United Arab Emirates has transformed from a territory that supported cryptocurrency activities into a country that implements thorough institutional financial regulations. The authorities intend to achieve sustainable industrial growth by establishing a governance framework that will enhance the sector's credibility through support for innovation.
The licensing of XBASE demonstrates the growing need for compliant cryptocurrency services designed specifically for institutional investors. The development of digital asset infrastructure in Dubai will lead to additional approvals, helping the city establish itself as a top destination for international cryptocurrency companies.