XBASE Gets the VARA Nod: Dubai's Latest Regulated Crypto Broker Cashes Its Billion-Dollar Ticket

The Dubai Virtual Assets Regulatory Authority (VARA) has officially upgraded Xbase Virtual Assets Broker & Dealer Services LLC from the "applicant lounge" to the main trading floor, granting the RELM Group subsidiary a full, active Virtual Asset Service Provider (VASP) licence. This isn't just a permission slip to watch; it's a backstage pass allowing XBASE to conduct spot over-the-counter crypto trades for the institutional whales and qualified high rollers.

Forget those vague "in-principle" approvals that often feel like a regulatory maybe. This licence is fully operational, a feat XBASE first teed up with its preliminary approval back in October 2025. RELM is framing this not just as a win, but as a core promise to build what every jurisdiction claims to want but few achieve: a secure, transparent, and fully regulated digital-asset playground in one of the globe's most crypto-ambitious sandboxes.

The broker's playbook was clear from the start: chase a heavyweight, multi-jurisdictional licence built for full compliance, designed to offer confidential OTC execution to institutions playing on a global scale. Its application didn't go in alone; it had a serious entourage including the Private Office of Sheikh Ahmed bin Faisal Al Qassimi for Consultancy and Project Development, CFC MENA, and VARA itself providing the reference letters.

Don't let the "new licence" tag fool you—the RELM Group isn't some fresh-faced startup. It's already processed over $1 billion in total trades across its large-order crypto and fiat trading and payments arm, known as the Trade Fluidity ecosystem. With that kind of liquidity depth, the firm's mission is to make crypto accessible for merchants of all stripes, offering a gateway to a dizzying 140 fiat currencies and every major cryptocurrency worth its salt.

VARA continues to be the most prolific licence printer in the desert, having now issued more than 43 VASP permits. Its portfolio covers the entire crypto service spectrum, from brokers and exchanges to the more cautious crowd in investment management and custody, building a regulated city block one approval at a time.