XBase Virtual Assets Achieves In-Principle Approval From Dubai VARA For Broker-Dealer Licence

The Dubai Virtual Assets Regulatory Authority (VARA) has provisionally approved XBase Virtual Assets Broker & Dealer Services, a branch of XBD Group, for a Broker-Dealer Services Licence.

This in-principle authorization is a significant step for XBase as it edges closer to commencing its operations, awaiting full permission. This development is a clear indication of the UAE's commitment to becoming a significant player in the global virtual assets and digital finance landscape, showcasing Dubai's role as a central hub for regulated virtual asset transactions.

Dubai is making strides to become the leading center for virtual asset markets globally, with trading volumes surpassing AED2.5 trillion since the beginning of 2025.

This initiative is part of a larger effort by Dubai to create a credible and transparent environment for virtual assets, reinforcing the city's standing in the international digital economy.

The move towards establishing a robust virtual assets ecosystem showcases Dubai's ambitious plans to lead in the digital finance sector.

Zeeshan Uppal, the CEO of XBase Virtual Assets Broker & Dealer Services, expressed his enthusiasm about obtaining the In-Principle Approval from VARA, emphasizing the importance of this achievement for the company's international growth.

Uppal stated, "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."

This statement underlines the company's dedication to meeting high standards of security and compliance within Dubai's progressive regulatory environment.