XBase Virtual Asset Broker and Dealer obtains in-principle VARA Licence Approval
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XBase Virtual Asset Broker and Dealer obtains in-principle VARA Licence Approval 10 October 2025 UAE Reporter: Tahlia Kraefft
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XBase Virtual Assets Broker and Dealer Services, has been granted In-Principal Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for a Broker-Dealer Services Licence.
The IPA is the last stage before XBase Virtual Assets Broker and Dealer Services, a subsidiary of XBD Group, a provider of digital asset payment solutions can start trading in the UAE awaiting full authorisation.
It represents a key step in XBase’s global expansion, creating operations in one of the world’s fast growing centers for digital assets.
When full authorisation is given, XBase will be enabled to onboard clients in the UAE, connecting its OTC trading services to a jurisdiction quickly establishing itself as a focal point for compliant digital asset ventures.
XBD Group provides merchant account services, payment acceptance and OTC trading to its customers in one financial ecosystem.
The VARA licence will be used by the group to give solutions designed to match the demands of institutional and qualified investors in the region.
Zeeshan Uppal, CEO, XBase Virtual Assets Broker and Dealer Services, says: “Securing In Principle Approval for our VARA licence is a pivotal step in our global journey. It reinforces our commitment to providing secure, compliant, and client-focused OTC trading infrastructure.
“VARA’ regulatory clarity and forward-looking mindset make it the natural choice for our next phase of expansion. We look forward to commencing trading in the region once we transition from IPA to full approval.”
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Image: Thananatt/stock.adobe.com 