3 hours ago
Animoca Brands has secured a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA), clearing the mode for the institution to broaden its crypto operations crossed the Middle East.
The licence allows the Hong Kong-founded Web3 capitalist and level developer to connection broker-dealer services and concern absorption related to virtual assets successful and from Dubai, excluding the Dubai International Financial Centre, according to a Monday announcement. The services are aimed chiefly astatine organization and qualified investors worldwide.
“This licence enhances our quality to prosecute with Web3 foundations arsenic good arsenic planetary organization and qualified investors wrong a well-regulated framework,” Omar Elassar, managing manager for the Middle East and caput of planetary strategical partnerships astatine Animoca Brands, said.
VARA, established successful March 2022, is liable for regulating and overseeing the provision, use, and speech of integer assets crossed Dubai's mainland and escaped zones.
Related: Dubai and UAE determination to align crypto frameworks nether caller partnership
Animoca to service organization investors successful Dubai
VARA’s nationalist registry shows that the licence was issued connected Feb. 5. It permits the steadfast to service organization and qualified investors nether the oversight of Dubai’s VARA.
Animoca wins VASP license. Source: VARAAnimoca Brands develops blockchain platforms and supports Web3 ecosystems, including The Sandbox, Open Campus and Moca Network, portion besides backing early-stage projects. The institution says its concern portfolio spans much than 600 companies and digital-asset initiatives.
In January, Animoca Brands acquired gaming and integer collectibles institution Somo, adding Somo’s playable and tradable collectibles to its broader portfolio of blockchain-based projects.
Related: What Dubai’s prohibition connected Monero and Zcash signals for regulated crypto
Crypto firms grow crypto operations successful Dubai
The determination adds to a increasing database of crypto firms establishing regulated operations successful Dubai. In October 2025, integer plus infrastructure steadfast BitGo besides obtained a broker-dealer licence from Dubai’s VARA, allowing its Middle East and North Africa portion to supply regulated digital-asset trading and intermediation services to organization clients successful the emirate.
The support came aft VARA said it had issued fiscal penalties against 19 companies for “unlicensed” Virtual Asset activities and “breaches of VARA’s Marketing Regulations.”
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