Dubai’s regulatory framework for digital assets continues to attract institutional players. Relm, the operating brand of XBASE Virtual Assets Broker & Dealer Services LLC, has officially secured its full Virtual Asset Service Provider (VASP) license from the emirate’s Virtual Assets Regulatory Authority (VARA). The approval allows the XBD Group subsidiary to launch compliant digital asset trading and over-the-counter (OTC) services tailored for institutional clients and enterprises across the region.
Quick Facts
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Full VARA broker-dealer license granted to Relm.
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Services target enterprise and institutional OTC crypto trading.
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Company operates as a subsidiary of XBD Group.
Advancing Institutional Crypto Trading in the UAE
The issuance of the VASP license authorizes Relm to onboard clients and commence regulated operations from Dubai. The approval follows the company’s successful completion of VARA’s rigorous licensing process, which included an earlier In-Principle Approval (IPA).
To secure the full license, the platform demonstrated full compliance with VARA’s regulatory, governance, risk, and operational requirements.
Zeeshan Uppal, CEO at Relm UAE, noted the significance of the regulatory milestone for the company’s regional strategy.
“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,” Uppal stated.
Enterprise-Grade Digital Asset Execution in Dubai
Relm’s core offering will focus heavily on OTC crypto trading, specialized broker-dealer services, and enterprise-grade digital asset execution.
The platform is explicitly designed for professional market participants, including corporate funds and family offices, seeking compliant exposure to digital assets alongside crypto-native liquidity.
By operating under VARA’s supervision, the broker-dealer aims to support Dubai’s broader objective of functioning as a global hub for cross-border digital commerce and financial innovation.
“Dubai continues to lead the future of digital trade by creating a setting where innovation and regulation move together. This 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,” Uppal added.
About Relm
Relm is the trading name of XBASE Virtual Assets Broker & Dealer Services LLC, a UAE-based virtual asset service provider licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). The company operates as a regulated crypto broker-dealer and OTC trading platform designed specifically for enterprises, institutional investors, funds, and family offices. Relm is a subsidiary of XBD Group, a global digital asset infrastructure provider that develops enterprise-ready solutions for crypto trading, payments, and liquidity.
Source: Zawya
