Animoca Brands has cleared a major regulatory hurdle in the Middle East, securing a Virtual Asset Service Provider (VASP) license in Dubai and positioning itself to expand operations in one of the region’s fastest-growing crypto hubs. The Hong Kong–headquartered digital-asset venture firm said in an email on Monday that Dubai’s Virtual Assets Regulatory Authority (VARA) has approved the license, allowing Animoca to begin offering broker-dealer services as well as digital-asset management and investment products in the Emirate. The move follows an in-principle approval the company received in Abu Dhabi in November to operate as a regulated fund manager. VARA, created in 2022 to oversee licensing and compliance for crypto and related businesses, has become central to Dubai’s strategy to attract digital-asset firms; major exchanges including Binance and OKX also secured regulatory approval there. For Animoca, the VASP license adds formal regulatory standing in a key market and clears the way for deeper regional partnerships, client onboarding and institutional services. Animoca is already active on multiple fronts: it filed to list on Nasdaq via a reverse merger late last year, manages a portfolio of over 600 blockchain investments, and provides institutional offerings such as crypto treasury management and digital-asset infrastructure. The Dubai license strengthens its ability to deliver those services locally and signals growing regulatory acceptance of established Web3 players in the Middle East. Read more AI-generated news on: undefined/news

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