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Animoca Brands has obtained a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority, clearing the company to offer broker-dealer services and investment management in the emirate. Theapproval allows the Hong Kong-founded Web3 investor to expand operations across the Middle East.
The license permits Animoca to provide virtual asset services to institutional and qualified investors in and from Dubai, excluding the Dubai International Financial Centre. VARA approved the application on Feb. 5, according to the regulator’s public register.
Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands, said the license enhances the company’s ability to engage with Web3 foundations and global institutional investors within a well-regulated <a href="https://xpertsstudio.com/sec-proposes-regulation-crypto-assets-framework-for-u-s-fundraising-market-sec/” title=”SEC Proposes Regulation Crypto Assets Framework for U.S. Fundraising | Market SEC”>framework. The approval supports the firm’s regional expansion strategy.
Animoca develops blockchain platforms and supports Web3 ecosystems, including The Sandbox, Open Campus, and Moca Network, while backing early-stage projects. The company’s investment portfolio spans more than 600 companies and digital asset initiatives.
VARA was established in March 2022 to regulate and oversee the provision, use, and exchange of digital assets across Dubai’s mainland and free zones. The authority has positioned the emirate as a compliance-driven hub for institutional crypto operations.
The approval adds to a growing list of crypto businesses establishing regulated operations in Dubai. Digital asset infrastructure company BitGo obtained a broker-dealer license from VARA in October 2025, allowing its Middle East and North Africa unit to provide regulated services to institutional clients.
Yat Siu, co-founder and executive chairman of Animoca Brands, described Dubai and the UAE as among the most forward-looking and supportive jurisdictions for cryptocurrency broadly. He said VARA demonstrated leadership in welcoming and assisting companies pursuing regulated operations.
The license comesweeks after Dubai’s DFSA prohibited licensed exchanges and financial institutions from facilitating privacy-focused tokens such as Monero and Zcash. The separate regulator governing the DIFC financial free zone cited Anti-Money Laundering and sanctions compliance risks.
The updated framework, which took effect last month, prohibits regulated firms from using privacy devices such as mixers, tumblers, or obfuscation tools that hide transaction details. The DFSA also tightened its definition of fiat crypto tokens, reserving the category exclusively for tokens pegged to fiat currencies and backed by high-quality liquid assets.
Animoca acquired gaming and digital collectibles company Somo in January, adding Somo’s playable and tradable collectibles to its portfolio of blockchain-based projects. The deal supports the company’s broader strategy of building Web3 infrastructure and content platforms.
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