Animoca Brands, a leading Web3 investor and platform developer, has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), marking a significant step in the company’s strategic expansion into the Middle East.
“This license is a crucial milestone for Animoca Brands, enabling us to offer a comprehensive suite of broker-dealer services and investment management solutions for virtual assets in Dubai,” said Omar Elassar, Managing Director for the Middle East and Head of Global Strategic Partnerships at Animoca Brands. “It positions us to engage more effectively with Web3 foundations and global institutional investors within a robust regulatory framework,” he added.
Enhanced Capabilities in a Regulated Environment
The VASP license, issued on February 5, allows Animoca Brands to serve institutional and qualified investors in Dubai, excluding the Dubai International Financial Centre. This regulatory approval underscores VARA’s commitment to fostering a secure and transparent digital asset ecosystem. VARA, established in March 2022, oversees the regulation, use, and exchange of digital assets across Dubai’s mainland and free zones.
Strategic Portfolio and Recent Acquisitions
Animoca Brands is renowned for its extensive portfolio of blockchain platforms and Web3 ecosystems, including The Sandbox, Open Campus, and Moca Network. The company has also made strategic investments in over 600 companies and digital-asset initiatives, solidifying its position as a key player in the global Web3 landscape.
In January, Animoca Brands acquired Somo, a gaming and digital collectibles company, further enriching its portfolio with Somo’s playable and tradable collectibles. This acquisition aligns with Animoca Brands’ mission to drive innovation and adoption of blockchain technology.
Growing Crypto Presence in Dubai
The acquisition of the VASP license by Animoca Brands is part of a broader trend of crypto firms establishing regulated operations in Dubai. In October 2025, BitGo, a digital asset infrastructure firm, also obtained a broker-dealer license from VARA, enabling its Middle East and North Africa unit to provide regulated digital-asset trading and intermediation services to institutional clients in the emirate.
VARA has been proactive in regulating the digital asset market, recently issuing financial penalties against 19 companies for unlicensed virtual asset activities and breaches of marketing regulations. This enforcement action highlights the authority’s commitment to maintaining a high standard of compliance and integrity within the digital asset sector.
Forward-Looking Insights
The entry of Animoca Brands into the Dubai market with a VASP license is a testament to the region’s growing importance in the global Web3 and crypto ecosystem. As more companies seek to establish a presence in Dubai, the city is poised to become a hub for innovation and investment in digital assets.
“The Middle East, particularly Dubai, is rapidly becoming a focal point for Web3 and blockchain innovation,” said Elassar. “With this license, Animoca Brands is well-positioned to capitalize on the region’s dynamic market and contribute to the development of a sustainable and regulated digital asset ecosystem,” he concluded.
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