Animoca said the license allows it to commence operations in Dubai, offering broker-dealer services and digital asset management and investments.
What to know:
- Digital asset venture capital company Animoca Brands has won regulatory approval in Dubai.Animoca has been granted a Virtual Asset Service Provider (VASP) license from the Emirate's regulatory authority for the digital asset industry.Dubai established its Virtual Assets Regulatory Authority in 2022 to oversee the licensing and operation of cryptocurrency and crypto-adjacent companies, and has since been central to the Emirate's growth into a digital asset hub.
Digital asset venture capital company Animoca Brands has won regulatory approval in Dubai.
Animoca has been granted a Virtual Asset Service Provider (VASP) license from the Emirate's regulatory authority for the digital asset industry, the firm announced via email on Monday.
The Hong Kong-headquartered company, whichwon in-principle approval as a regulated fund manager in Abu Dhabiin November, said the license allows it to commence operations in Dubai, offering broker-dealer services and digital asset management and investments.
Dubai established its Virtual Assets Regulatory Authority (VARA) in 2022 to oversee the licensing and operation of cryptocurrency and crypto-adjacent companies, and has since been central to theEmirate's growth into a digital asset hub. Prominent exchanges such as Binance and OKX have also won regulatory approval there.
Animoca, which filed tolist on the Nasdaq in the U.S.through a reverse merger late last year, manages a portfolio of over 600 blockchain investments and offers institutional services such as crypto treasury management and digital asset infrastructure.
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