Animoca Brands clears a major regulatory hurdle with new Dubai license
Animoca Brands secured a Virtual Asset Service Provider license in Dubai, enabling broker-dealer and asset management services.Summary
Digital asset venture capital firm Animoca Brands has obtained a Virtual Asset Service Provider (VASP) license from Dubai's regulatory authority for the digital asset industry. This approval allows the Hong Kong-headquartered company to begin operations in Dubai, where it will offer broker-dealer services, digital asset management, and investments. Dubai established the Virtual Assets Regulatory Authority (VARA) in 2022 to regulate crypto companies, making it a significant digital asset hub where major exchanges like Binance and OKX have also received approval. Animoca Brands, which manages a portfolio of over 600 blockchain investments and offers institutional services, had previously secured in-principle approval as a regulated fund manager in Abu Dhabi last November.
(Source：CoinDesk)