News: Relm (XBASE Virtual Assets Broker & Dealer Services LLC), a subsidiary of XBD Group, has been granted a full Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Assets Regulatory Authority (VARA). This allows Relm to function as a regulated virtual asset broker-dealer in the UAE, providing compliant digital asset trading and OTC services to institutional clients, enterprises, and qualified counterparties. The company has met all regulatory, governance, risk, and operational requirements. Relm will focus on OTC crypto trading, broker-dealer services, and enterprise-grade digital asset execution.
AI Analysis: This license signifies growing regulatory clarity in the UAE's digital asset space, potentially attracting more institutional investment and solidifying Dubai's position as a leading crypto hub. Relm's focus on institutional clients suggests a move towards more mature and regulated crypto market participation.
