Amidst the ongoing situation in the Middle East, the Dubai Virtual Assets Authority is still moving full steam ahead, and has granted Xbase Virtual Assets Broker & Dealer Services LLC, part of RELM Group, a virtual asset service provider license allowing it to offer crypto brokerage services.
As per the license, XBase, one of the subsidiaries of RELM group, will be able to offer spot OTC crypto trading to institutional and qualified investors. The license, unlike others, is active and not just issued.
XBASE had received its in-principle approval in October of 2025. At the time, RELM had noted that the approval reinforced their commitment to building a secure, transparent, and fully regulated digital asset ecosystem in one of the most forward-thinking markets in the world.
XBASE sought to have a fully compliant, multi-jurisdictional licensing, secure, and confidential OTC trade execution tailored for institutions and clients worldwide.
XBASE was able to receive its license with the support of The Private Office of Sheikh Ahmed bin Faisal Al Qassimi for Consultancy and Project Development, CFC MENA, which offers crypto and fintech consultancy services, and Virtual Assets Regulatory Authority (VARA).
RELM has already executed over $1 billion in total trades across its large-order crypto and fiat trading and payments under its Trade Fluidity ecosystem. RELM boasts of deep liquidity as it aims to make crypto accessible to merchants across all market sectors and industries.
RELM currently offers access to 140 fiat currencies and all major cryptocurrencies.
Dubai’s Virtual Assets Regulatory Authority has issued to date over 43 VASP licenses ranging from crypto brokers to exchanges to investment management, crypto custody, and more.
