Animoca Brands has received a Virtual Asset Service Provider (VASP) licence from Dubai's Virtual Assets Regulatory Authority (VARA), authorizing the company to provide broker-dealer and investment management services for virtual assets in the emirate.
The licence, announced Monday, permits Animoca Brands to offer VA Broker-Dealer Services and VA Management and Investment Services to institutional and qualified investors from and within Dubai, excluding the Dubai International Financial Centre. The authorization covers both global and regional operations.
The licence marks Animoca Brands' formal entry into Dubai's regulated virtual asset market as it expands regional operations.
Animoca Brands, which builds digital asset platforms including Moca Network, Open Campus, and The Sandbox, operates a portfolio spanning over 600 companies and digital assets. The company also provides digital asset services to help crypto companies launch and scale.
Omar Elassar, managing director for Middle East and head of Global Strategic Partnerships at Animoca Brands, said the licence "enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework."
VARA, established in 2022, is the world's first independent virtual asset regulator. The authority oversees all virtual asset activities across Dubai and has positioned the emirate as a hub for regulated crypto businesses seeking institutional-grade frameworks.
