Relm’s services will focus on OTC trading, broker-dealer operations, and enterprise crypto execution.
Dubai: XBASE Virtual Assets Broker & Dealer Services LLC, operating as Relm and a subsidiary of XBD Group, has obtained its full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
The license allows Relm to operate as a regulated virtual assets broker-dealer in the UAE, offering compliant digital asset trading and over-the-counter (OTC) services to institutional clients, enterprises, and qualified counterparties in the region.
This follows Relm’s successful completion of VARA’s licensing process, including its earlier In-Principle Approval (IPA), confirming that the company meets all regulatory, governance, risk, and operational standards under Dubai’s virtual assets framework.
With the VASP license now issued, Relm can onboard clients and begin regulated operations from Dubai, fully operating within VARA’s comprehensive regulatory framework, which has positioned the Emirate as a leading global hub for compliant digital asset activity.
Zeeshan Uppal, CEO of Relm UAE, said: “Obtaining our full VARA VASP license is a significant milestone for Relm and a strong validation of our compliance-first approach. The UAE has set a global benchmark for digital asset regulation through clarity, rigor, and ambition. VARA’s framework gives institutions the confidence to engage with digital assets at scale, and we are proud to be part of that ecosystem as a fully licensed broker-dealer.”
He added, “Dubai continues to shape the future of digital trade by fostering an environment where innovation and regulation advance together. This license enables Relm to provide enterprises, corporations, funds, and family offices with secure, transparent, and institution-grade access to digital asset markets, free from regulatory uncertainty.”
Relm’s regulated services will focus on OTC crypto trading, broker-dealer operations, and enterprise-grade digital asset execution, tailored for professional market participants seeking compliant access to digital assets and crypto-native liquidity.
Operating under VARA’s supervision, Relm supports the UAE’s expanding digital economy and contributes to Dubai’s ambition to become a global hub for virtual assets, financial innovation, and cross-border digital commerce.
