Dubai Grants Animoca Brands Crypto License for Middle Eastern Market Expansion
On Feb. 5, Dubai's regulatory authority granted approval for the license, enabling Animoca Brands to serve qualified and institutional investors through Dubai's VARA regulatory framework.
The Hong Kong-based company Animoca Brands has obtained a Virtual Asset Service Provider (VASP) license issued by Dubai's Virtual Assets Regulatory Authority (VARA), paving the way for expanded cryptocurrency operations throughout the Middle Eastern region.
According to an announcement made on Monday, the regulatory approval enables the Web3 investor and platform developer, which was founded in Hong Kong, to provide investment management and broker-dealer services connected to virtual assets both within and from Dubai, with the exception of the Dubai International Financial Centre. The primary focus of these services will be qualified and institutional investors on a global scale.
"This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework," Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands, said.
Created in March 2022, VARA holds the responsibility for supervising and regulating the exchange, use, and provision of digital assets throughout Dubai's free zones and mainland areas.
Animoca to serve institutional investors in Dubai
According to VARA's publicly accessible register, the regulatory license was granted on Feb. 5. The authorization enables the company to provide services to qualified and institutional investors while operating under VARA's regulatory supervision in Dubai.
As a developer of blockchain platforms and supporter of Web3 ecosystems, Animoca Brands is involved with projects including Moca Network, Open Campus, and The Sandbox, in addition to providing backing for early-stage ventures. According to the company, its investment portfolio encompasses more than 600 digital-asset initiatives and companies.
During January, the company completed the acquisition of Somo, a gaming and digital collectibles company, incorporating Somo's tradable and playable collectibles into its extensive portfolio of projects based on blockchain technology.
Crypto firms expand crypto operations in Dubai
This development contributes to an expanding roster of cryptocurrency companies setting up regulated operations within Dubai. During October 2025, BitGo, a digital asset infrastructure firm, similarly secured a broker-dealer license from Dubai's VARA, enabling its Middle East and North Africa division to deliver regulated intermediation services and digital-asset trading to institutional clients operating in the emirate.
This regulatory approval followed VARA's announcement that it had imposed financial penalties on 19 companies for engaging in "unlicensed" Virtual Asset activities and committing "breaches of VARA's Marketing Regulations."