Animoca Brands announced on Monday that it has obtained in-principle approval from Abu Dhabi’s financial regulator, marking a significant step toward becoming a regulated fund manager within one of the Middle East’s most active digital asset hubs.
The Web3-focused company, headquartered in Hong Kong, said that the approval from the Financial Services Regulatory Authority will allow it to manage a collective investment fund within the Abu Dhabi Global Market (ADGM), once all conditions are met and final authorization is granted.
For a company deeply rooted in gaming, NFTs, and digital assets, this milestone signals a stronger push into the institutional side of the industry.
Growing Momentum in the Middle East
Animoca Brands describes its investment arm as a digital asset advisory and management entity that supports more than 600 portfolio companies. The provisional approval enhances this strategy by providing a more defined regulatory base for fundraising and structured investment activities.
The firm has been steadily strengthening its presence in the Middle East, with an established base in Dubai to serve the region’s growing Web3 ecosystem. The Abu Dhabi approval—though still subject to final requirements—supports its plan to build a regulated operational footprint across key markets.
Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands, said that the UAE continues to grow as a center for Web3 and digital asset innovation. He noted that the approval reinforces the company’s regional strategy of developing regulated pathways for institutional participation while collaborating with founders and enterprises across the industry.
Regulators in ADGM emphasized that this move aligns with their ongoing effort to welcome more blockchain and digital asset companies into a structured and compliant environment.
Regulatory Growth Aligns With Plans for Public Market Return
Animoca Brands is pushing forward with its regulatory expansion at the same time as it works toward reentering public markets. Earlier this month, the company signed a non-binding agreement with a Nasdaq-listed entity, Currenc Group, to explore a reverse merger valuing the combined company at approximately $1 billion. The deal is expected to close by the end of 2026.
If finalized under the proposed terms, Animoca Brands’ shareholders would hold around 95% of the merged company’s shares, while existing Currenc shareholders would retain about 5%.
This potential merger marks Animoca’s path back to public markets following its removal from the Australian Securities Exchange in 2020 due to governance-related issues and its involvement in crypto-focused activities.
