- Animoca Brands secures VARA VASP license to offer regulated crypto services in Dubai.
- License allows broker-dealer and investment management services for institutional investors.
- Approval adds Animoca to the growing list of VARA-licensed crypto firms in Dubai.
Animoca Brands has obtained regulatory approval in Dubai, marking a formal expansion of its crypto operations into the Middle East. The Hong Kong-founded Web3 investor and platform developer secured a Virtual Asset Service Provider license from Dubai Virtual Assets Regulatory Authority (VARA), enabling it to offer regulated virtual-asset services in and from Dubai, excluding the Dubai International Financial Centre.
According to VARA’s public register, the license was issued on Feb. 5. The authorization permits Animoca Brands to provide broker-dealer services and investment management related to virtual assets. The company stated that these services will be directed primarily at institutional and qualified investors operating under VARA’s oversight.
License Scope and Regulatory Framework
VARA, established in March 2022, oversees the provision, use, and exchange of digital assets across Dubai’s mainland and free zones. The regulator maintains a public register of licensed entities and has introduced compliance requirements covering marketing, custody, and intermediation activities.
Under the newly issued license, Animoca Brands can operate within VARA’s regulatory framework but cannot conduct activities in the Dubai International Financial Centre, which falls under a separate authority. The company said the approval strengthens its ability to engage with Web3 foundations as well as institutional market participants within a regulated structure.
Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands, stated that the license enhances the firm’s capacity to work with institutional and qualified investors in the region.
Related: Animoca Brands Secures $10M for Mocaverse, MOCA Coin at $1B Valuation
Institutional Focus and Portfolio Expansion
Animoca Brands develops blockchain platforms and supports Web3 ecosystems, including The Sandbox, Open Campus, and Moca Network. The company reports that its investment portfolio spans more than 600 companies and digital-asset initiatives.
In January, Animoca Brands acquired gaming and digital collectibles company Somo, integrating Somo’s playable and tradable collectibles into its broader blockchain-focused portfolio.
The approval adds Animoca Brands to a growing list of digital-asset firms operating under VARA’s supervision. In October 2025, digital asset infrastructure provider BitGo received a broker-dealer license from VARA, allowing its Middle East and North Africa unit to offer regulated digital-asset trading and intermediation services to institutional clients in Dubai.
Related: Animoca, Standard Chartered, and HKT Form Joint Venture to Seek HKMA Stablecoin License
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