This milestone reinforces Dubai’s leadership in regulated virtual assets and strengthens XBD Group’s global expansion strategy
Dubai, UAE, 16 October 2025: XBase Virtual Assets Broker & Dealer Services (XBase), a subsidiary of XBD Group, today announced that it has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for a Broker-Dealer Services Licence.
This approval marks the final stage before XBase begins operations, pending full authorisation — a pivotal milestone in the UAE’s rapidly expanding virtual assets and digital finance sector, and a testament to Dubai’s position as a global hub for regulated virtual asset activity.
The achievement aligns with Dubai’s broader efforts to establish a transparent and trusted virtual assets ecosystem. The emirate now leads the world’s largest licensed virtual assets market, with trading volumes exceeding AED 2.5 trillion since the start of 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.”
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About XBD Group
XBD Group is a global digital asset infrastructure provider pioneering the world’s first Trade Fluidity Ecosystem — an integrated, compliance-led suite of payment and trading solutions designed to make digital assets safer and more accessible for businesses worldwide. From cross-border transactions to digital payment acceptance and OTC trading, XBD empowers merchants and institutions to move value seamlessly across currencies and borders. The Group remains committed to delivering best-in-class digital asset solutions tailored to the needs of institutional and qualified investors in the region. XBD Group operates a global network of regulated entities serving institutional and high-
net-worth clients across Europe, Africa, LATAM, North America, and Southeast Asia. Through its unified ecosystem, XBD bridges the gap between traditional finance and digital assets, offering merchant services, payment acceptance, and OTC trading within a compliance-first framework.
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