Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling the company to offer broker-dealer and investment management services in the emirate and strengthening its institutional footprint across the Middle East.
The approval allows the Hong Kong-based Web3 investor and blockchain developer to provide virtual asset services to institutional and qualified investors operating in and from Dubai, though it excludes activities within the Dubai International Financial Centre (DIFC). VARA formally approved the license on February 5, according to its public registry.
Omar Elassar, Managing Director for the Middle East and Head of Global Strategic Partnerships at Animoca Brands, said the license enhances the firm’s ability to engage with Web3 foundations and global institutional investors under a regulated framework, supporting its broader regional expansion strategy.
Animoca Brands is a major player in the Web3 ecosystem, developing blockchain-based platforms and supporting projects such as The Sandbox, Open Campus, and Moca Network. The company also maintains an extensive investment portfolio spanning more than 600 blockchain and digital asset initiatives.
Established in March 2022, VARA oversees the regulation of virtual assets across Dubai’s mainland and free zones, positioning the emirate as a regulated hub for digital asset businesses targeting institutional markets.
Animoca’s approval adds to a growing list of crypto firms establishing regulated operations in Dubai. In October 2025, digital asset infrastructure provider BitGo also received a broker-dealer license from VARA, enabling it to serve institutional clients across the Middle East and North Africa region.
Yat Siu, co-founder and Executive Chairman of Animoca Brands, described the UAE and Dubai as among the most progressive jurisdictions for the crypto industry, highlighting VARA’s role in supporting compliant market entry for global firms.
The development comes amid tighter regulatory measures in the region. Dubai’s DFSA recently restricted licensed exchanges and financial institutions from dealing with privacy-focused cryptocurrencies such as Monero and Zcash, citing anti-money laundering and sanctions compliance concerns. The updated framework also bans tools such as mixers and tumblers that obscure transaction flows and narrows the definition of fiat-referenced tokens to those backed by high-quality liquid assets.
Separately, Animoca Brands continues to expand its portfolio, recently acquiring gaming and digital collectibles company Somo in January, further strengthening its position in blockchain gaming and Web3 content infrastructure.
