Animoca Brands has obtained a Virtual Asset Service Provider (VASP) license from Dubai Virtual Assets Regulatory Authority (VARA), paving the way for the company to expand its digital asset operations across the Middle East.
The license authorizes the Hong Kong–founded Web3 investor and platform developer to provide broker-dealer and investment management services related to virtual assets in and from Dubai — excluding the Dubai International Financial Centre — according to a Monday announcement. The offerings will primarily target 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, Animoca Brands’ managing director for the Middle East and head of global strategic partnerships.
Established in March 2022, VARA oversees the regulation, supervision and exchange of digital assets across Dubai’s mainland and free zones.
According to VARA’s public register, the license was issued on Feb. 5 and permits Animoca Brands to serve institutional and qualified investors under the regulator’s supervision.
Animoca Brands builds blockchain platforms and supports a range of Web3 ecosystems, including The Sandbox, Open Campus and Moca Network, while also investing in early-stage ventures. The company says its portfolio includes stakes in more than 600 firms and digital-asset initiatives.
In January, Animoca Brands acquired gaming and digital collectibles company Somo, incorporating its playable and tradable collectibles into Animoca’s broader suite of blockchain-based projects.
Crypto firms expand operations in Dubai
Animoca’s approval adds to a growing roster of crypto companies setting up regulated operations in Dubai. In October 2025, digital asset infrastructure provider BitGo secured a broker-dealer license from Dubai Virtual Assets Regulatory Authority, enabling its Middle East and North Africa arm to offer regulated trading and intermediation services to institutional clients in the emirate.
The license followed enforcement actions by VARA, which announced financial penalties against 19 firms for conducting unlicensed virtual asset activities and violating the regulator’s marketing rules.
