Dubai’s regulator approved the license on Feb. 5, allowing Animoca Brands to target institutional and qualified investors under the oversight of Dubai’s VARA.
Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), clearing the way for the company to broaden its crypto operations across the Middle East.
The license allows the Hong Kong-founded Web3 investor and platform developer to offer broker-dealer services and investment management related to virtual assets in and from Dubai, excluding the Dubai International Financial Centre, according to a Monday announcement. The services are aimed primarily at institutional and qualified investors.
“This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework,” said Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands.
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