Cryptocurrency firm Relm has secured its VARA license in the U.A.E, as per an official press release on Monday. The new license gives Relm—a subsidiary of parent company XBD group—the permission to operate as a regulated virtual assets broker-dealer in the U.A.E.
The update follows an earlier in-principle approval secured by Relm from VARA.
“Receiving our full VARA VASP license is a major milestone for Relm and a clear validation of our compliance-first approach. The UAE has set a global benchmark for regulating digital assets, with clarity, rigor, and ambition,” said Relm’s CEO Zeeshan Uppal.
“VARA’s framework gives institutions the confidence to deal with digital assets at scale, and we are proud to be part of that ecosystem as a fully licensed broker-dealer,”
Under the new licensing provided by VARA, Relm will be able to offer OTC cryptocurrency