Relm VARA license approval marks a significant regulatory milestone for XBASE Virtual Assets Broker & Dealer Services LLC, operating as Relm and a subsidiary of XBD Group, which received its full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) on March 30, 2026.
The license authorises Relm to operate as a regulated virtual assets broker-dealer in the UAE. Consequently, the company may now provide compliant digital asset trading and over-the-counter (OTC) services to institutional clients, enterprises, and qualified counterparties operating in and through the region.
Completing VARA’s Full Licensing Process
This approval follows Relm’s completion of VARA’s licensing process, including its earlier In-Principle Approval (IPA). The full license confirms that Relm has met all regulatory, governance, risk, and operational requirements under Dubai’s virtual assets framework.
With the VASP license issued, Relm is now authorised to onboard clients and commence regulated operations from Dubai. Moreover, the company operates within VARA’s regulatory framework, which has positioned the Emirate as one of the leading jurisdictions globally for compliant digital asset activity.
Relm VARA License: CEO Statement
“Receiving our full VARA VASP license is a major milestone for Relm and a clear validation of our compliance-first approach. The UAE has set a global benchmark for regulating digital assets, with clarity, rigor, and ambition. VARA’s framework gives institutions the confidence to deal with digital assets at scale, and we are proud to be part of that ecosystem as a fully licensed broker-dealer.”
Zeeshan Uppal, CEO, Relm UAE
Uppal further stated that Dubai continues to lead the future of digital trade by creating a setting where innovation and regulation move together. He added that the license allows Relm to support enterprises, corporations, funds, and family offices with secure, transparent, and institution-grade access to digital asset markets, without regulatory uncertainty.
Regulated Services and Target Clients
Relm’s regulated offering focuses on OTC crypto trading, broker-dealer services, and enterprise-grade digital asset execution. Specifically, these services target professional market participants seeking compliant exposure to digital assets and crypto-native liquidity.
The company’s client base includes enterprises, institutional investors, funds, and family offices. Furthermore, Relm operates as part of XBD Group, a global digital asset infrastructure provider developing compliant, enterprise-ready solutions for crypto trading, payments, and liquidity across multiple jurisdictions.
Supporting Dubai’s Digital Economy Goals
Under VARA’s supervision, Relm contributes to the UAE’s growing digital economy. The company also supports Dubai’s goal to become a global hub for virtual assets, financial innovation, and cross-border digital commerce.
Dubai’s VARA framework has attracted a growing number of licensed virtual asset service providers since its establishment. As a result, the Emirate has positioned itself as a key destination for regulated digital finance activity in the Middle East and globally.
