Web3 investment and infrastructure firm Animoca Brands has obtained in-principle approval from the Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA), the company said on Monday.
Final approval would allow Animoca Brands to manage mutual funds from ADGM, helping it strengthen its institutional footprint in the Middle East.
Animoca already maintains a presence in Dubai and has been positioning the region as a key hub for Web3’s growth.
The company, which revealed plans to go public on Nasdaq earlier this month, said the approval aligns with its goal of building regulated and compliant pathways for global institutional participation in Web3.
“The UAE is a growing hub for activity in Web3 and digital assets,” said Omar Elassar, Middle East managing director at Animoca. “This approval supports our regional strategy to build institutional and regulated pathways for participation.”
The company manages a portfolio of more than 600 investments in Web3, positioning it as one of the largest and most active sponsors in the industry.
