Web3 investment and infrastructure company Animoca Brands has obtained approval in principle from the Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA), the company announced on Monday.
The final approval would allow Animoca Brands to manage collective investment funds within ADGM, helping it strengthen its institutional footprint in the Middle East.
Animoca already has a presence in Dubai and positions the region as a key hub for Web3’s growth.
The company, which revealed plans to list on Nasdaq earlier this month, said the approval aligns with its goal of creating regulated and compliant pathways for global institutional participation in Web3.
“The UAE is a growing hub for activity in the Web3 and digital assets space,” said Omar Elassar, Animoca Managing Director for the Middle East. “This approval supports our regional strategy to create regulated and institutionalized pathways for participation.”
The company manages a portfolio of more than 600 Web3 investments, positioning it as one of the largest and most active backers in the industry.
