Digital venture capital firm Animoca Brands has won 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 firm announced via email on Monday.
The Hong Kong-headquartered firm, which won in-principle approval as a regulated fund manager in Abu Dhabi in November, said the license allows it to begin operations in Dubai, offering broker-dealer services and digital asset management and investments.
Dubai established its Virtual Assets Regulatory Authority (VARA) in 2022 to oversee the licensing and operation of cryptocurrency and crypto-adjacent businesses, and has since been central to the Emirate’s growth into a digital asset hub. Prominent exchanges such as Binance and OKX have also won regulatory approval there.
Animoca, which applied for listing on Nasdaq in the US through a reverse merger late last year, manages a portfolio of over 600 blockchain investments and offers institutional services such as crypto treasury management and digital asset infrastructure.
