Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), clearing the way for the company to broaden its crypto operations across the Middle East.
The license allows the Hong Kong-founded Web3 investor and platform developer to offer broker-dealer services and investment management related to virtual assets in and from Dubai, excluding the Dubai International Financial Centre, according to a Monday announcement. The services are aimed primarily at institutional and qualified investors.
“This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework,” said Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands.
VARA, established in March 2022, is responsible for regulating and overseeing the provision, use and exchange of digital assets across Dubai’s mainland and free zones.
Related: Dubai and UAE move to align crypto frameworks under new partnership
Animoca to serve institutional investors in Dubai
VARA’s public register shows that the license was issued on Feb. 5. It permits the company to serve institutional and qualified investors under VARA’s oversight.
Animoca Brands develops blockchain platforms and supports Web3 ecosystems, including The Sandbox, Open Campus and Moca Network, while also backing early-stage projects. The company says its investment portfolio spans more than 600 companies and digital-asset initiatives.
In January, Animoca Brands acquired gaming and digital collectibles company Somo, adding Somo’s playable and tradable collectibles to its broader portfolio of blockchain-based projects.
Related: What Dubai’s ban on Monero and Zcash signals for regulated crypto
Crypto companies expand operations in Dubai
The move adds to a growing list of crypto businesses establishing regulated operations in Dubai. In October 2025, digital asset infrastructure company BitGo also obtained a broker-dealer license from Dubai’s VARA, allowing its Middle East and North Africa unit to provide regulated digital-asset trading and intermediation services to institutional clients in the emirate.
The approval came after VARA said it had issued financial penalties against 19 companies for “unlicensed” Virtual Asset activities and “breaches of VARA’s Marketing Regulations.”
Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’
Be the first to comment