Digital asset venture capital firm Animoca Brands has obtained regulatory approval in Dubai.
Animoca has received a Virtual Asset Service Provider (VASP) license from the Emirate’s regulatory authority for the digital asset industry, the company announced via email on Monday.
The Hong Kong-based company, which gained in-principle approval as a regulated fund manager in Abu Dhabi in November, said the license allows it to start operating in Dubai, offering brokerage and digital asset management and investment services.
Dubai established its Virtual Asset Regulatory Authority (VARA) in 2022 to oversee the licensing and operation of cryptocurrencies and cryptocurrency-adjacent businesses, and has since been instrumental in the Emirate’s growth into a digital asset hub. Prominent exchanges such as Binance and OKX have also obtained regulatory approval there.
Animoca, which listed on the US Nasdaq 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.
