Lexim, a DMCC-licensed precious metals trading firm, specializing in the procurement and trading of Swiss gold has received in principle approval for a virtual asset broker dealer license from VARA Dubai ( Virtual Assets Regulatory Authority).
According to their press release, Lexim’s digital gold platform has received its IPA following an extensive multi-stage assessment by the regulator.
They add that the approval enables Lexim to complete the final requirements toward full VASP authorization. Once fully licensed, Lexim intends to provide institutional, qualified, and retail investors with regulated access to digital gold through two tokenized instruments.
The first instrument is the the KBAR digital certificate of gold ownership, representing a specific, individually identified physical gold bar and the DAU, a fractional and fully fungible digital certificate of gold ownership.
Each digital certificate of gold ownership is backed one-to-one by physical gold held in secure, accredited vaults in Switzerland, with custody of the underlying gold maintained by DuBois Gold AG, a Switzerland-based gold producer and the issuer of the KBAR and DAU instruments, and a member of the FINMA-recognized self-regulatory organization VQF.
Timoth Charles Sawyer, Chairman at Lexim stated, “VARA has built one of the most demanding virtual asset frameworks anywhere, and reaching this stage reflects the strength of the governance and compliance foundation the board has insisted on from the outset. Operating within a rigorous, well-regulated environment is exactly the basis on which we intend to earn investor trust.”
George Irawan, CEO of Lexim added that the VARA in principle approval will allow the company to build a digital gold infrastructure to the standard a serious regulatory regime demands. According to him it will be built from the ground up rather than as an afterthought.
Recently UAE Prypco, tokenization platform which started with real estate, announced that it will be offering tokenized gold on its platform powered by Paxos Gold, starting from the 19th of June 2026, when it launches Gold on Prypco Mint. The offering will be available to investors globally.
