XBase Virtual Assets Broker & Dealer Services (XBase), part of the XBD Group, has announced it has secured In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for a Broker-Dealer Services Licence.
The approval positions XBase at the threshold of commencing full operations, subject to final authorisation. It represents a significant step forward in the UAE’s fast-growing digital finance and virtual assets sector, reaffirming Dubai’s status as a leading centre for regulated virtual asset innovation.
This development complements Dubai’s ongoing strategy to build a transparent, credible, and sustainable virtual asset framework. The emirate continues to lead the world’s largest regulated virtual assets market, with transaction volumes surpassing AED 2.5 trillion since early 2025.
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.”