Digital asset venture capital firm Animoca Brands has obtained regulatory approval in Dubai.
Animoca has obtained a Virtual Asset Service Provider (VASP) license from the Emirate regulatory authority for the digital assets sector, the company announced via email on Monday.
The Hong Kong-based company, which gained approval in principle as a regulated fund manager in Abu Dhabi in November, said the license allows it to start operations in Dubai, offering digital asset brokerage, management and investment services.
Dubai established its Virtual Assets Regulatory Authority (VARA) in 2022 to oversee the licensing and operation of cryptocurrencies and cryptocurrency-adjacent companies, and has since played a central role in the Emirate’s growth into a digital assets hub. Leading exchanges such as Binance and OKX have also obtained regulatory approval there.
Animoca, which filed to list on the Nasdaq in the United States through a reverse merger late last year, manages a portfolio of more than 600 blockchain investments and offers institutional services such as crypto treasury management and digital asset infrastructure.
