XBase Virtual Assets Broker & Dealer Services (XBase), under the XBD Group umbrella, has obtained In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Broker-Dealer Services Licence.
This milestone signifies the final phase before XBase launches full operations, pending formal authorisation. It represents another key moment in the evolution of Dubai’s regulated digital finance ecosystem and highlights the emirate’s growing global influence in the virtual asset landscape.
The approval reinforces Dubai’s proactive efforts to create a transparent and sustainable framework for virtual assets. As of 2025, Dubai hosts the world’s largest regulated market for digital assets, with cumulative trading volumes exceeding AED 2.5 trillion.
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.”
