XBase Receives In-Principle Approval from Dubai’s VARA for Broker-Dealer Services Licence
XBase Virtual Assets Broker & Dealer Services, a subsidiary of XBD Group, has announced that it has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Broker-Dealer Services Licence. The approval represents a major step toward full operational authorisation and underscores Dubai’s growing influence as a global hub for regulated virtual asset activity.
The VARA IPA positions XBase to become one of the next fully regulated entities within Dubai’s thriving digital asset ecosystem, aligning with the emirate’s vision to establish a transparent, compliant, and globally trusted virtual asset market. The review and marks the final milestone before the company begins official operations, pending full licence issuance.
“Securing VARA’s In-Principle Approval marks a key milestone in our global expansion,” said Zeeshan Uppal, Chief Executive Officer of XBase. “It underscores our commitment to delivering secure, compliant, and client-focused and qualified investors. We commend VARA’s transparent and progressive regulatory framework, which ensures Dubai remains at the forefront of the global digital economy.”
Takeaway
Strengthening Dubai’s Regulated Digital Asset Landscape
The milestone comes as Dubai’s virtual asset sector continues to mature under VARA’s oversight. Since its establishment, VARA has positioned the UAE as the world’s first jurisdiction with a comprehensive framework for virtual assets, . Trading volumes in Dubai’s regulated market have surpassed AED 2.5 trillion since the begin of 2025, reflecting the city’s global significance as a digital finance centre.
Through its IPA, XBase is now cleared to complete operational readiness steps ahead of obtaining its full licence. The firm’s focus on institutional-grade trading infrastructure aims to enhance liquidity, transparency, and , catering to both institutional investors and qualified counterparties.
XBase’s alignment with VARA’s governance framework demonstrates the growing institutional demand for compliant trading venues — a crucial element in bridging traditional finance and the digital economy. The company’s approach emphasizes security, governance, and scalability as foundational pillars of its broker-dealer operations.
Takeaway
Advancing Institutional Adoption in the UAE and Beyond
As a subsidiary of XBD Group, XBase builds on the parent company’s expertise in financial technology and cross-border trading infrastructure. The VARA approval strengthens XBase’s strategic roadmap to expand across Asia, Europe, and the Middle East, providing compliant access to global through a secure, technology-driven platform.
The approval also reinforces Dubai’s strategy of attracting institutional capital to its digital asset ecosystem. With major financial hubs worldwide viewking regulatory clarity, Dubai’s model of proactive oversight and open innovation continues to set the benchmark for how virtual asset markets can operate securely at scale.
As the company prepares for full licensing, XBase aims to further collaborate with regulatory and institutional partners to accelerate the adoption of compliant digital finance answers — paving the way for a more secure and integrated global marketplace.
