Web3-focused investment company Animoca Brands has received the Virtual Asset Service Provider license issued by the Dubai Virtual Assets Regulatory Authority (VARA). Thanks to this license, the company will be able to offer brokerage and portfolio management services related to digital assets based in Dubai. The permit covers areas outside the Dubai International Financial Center and is specifically targeted at institutional and qualified investors.
Animoca Brands’ Middle East Expansion
Animoca Brands is known for its investments in blockchain-based projects and contributions to the Web3 ecosystem. Platforms such as The Sandbox and Open Campus stand out in the company’s portfolio. The acquisition of Somo in 2024 also strengthened the company’s presence in the field of blockchain-based games and digital collectibles. Animoca Brands; It is known globally for its investments in gaming, digital collectibles and early-stage Web3 startups.
Crypto Market and Regulatory Framework in Dubai
VARA, which regulates the digital asset market in Dubai, was established in 2022 and oversees crypto-related activities across the city. The institution is trying to turn Dubai into a regulated crypto hub by aiming to implement innovative solutions that adhere to regulations. Recently, many companies providing digital asset services are turning to obtaining licenses in Dubai. Custody and infrastructure providers such as BitGo are also among those licensed to provide regulated services.
VARA imposes sanctions against companies that provide services without an operating license or do not comply with marketing rules. This points to Dubai’s strategy to balance regulation and innovation.
Animoca Brands Middle East General Manager and global strategic business partnerships officer Omar Elassar stated that the license granted will allow the company to cooperate more effectively with Web3 organizations and international institutional investors. Elassar also emphasized that regulatory clarity contributes to an inclusive and safe innovation environment.
Omar Elassar pointed out that Animoca Brands will be able to develop new collaborations with Web3 projects and corporate stakeholders in the region, thanks to the license it received, and stated that VARA’s supervisory approach provides a suitable basis for growth.
Animoca Brands’ license appears to be on VARA’s public list as of February 5. According to experts, the company’s ability to act on legal grounds in the Middle East is considered an important step in terms of inter-institutional cooperation and new investments in the region.
Increasing regulations on the digital asset market in Dubai increases the interest of international companies in the region. Many institutions operating in the crypto industry share the view that transparent and clear regulatory processes are key to long-term growth.
With the latest development, Animoca Brands had the opportunity to expand its services in the Middle East market on the basis of legal infrastructure and transparency. The company’s activities in the region are expected to expand with new partnerships and projects.
