Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing the firm to expand its cryptocurrency services in the region.

This approval enables the company, founded in Hong Kong, to provide broker-dealer services and manage investments concerning virtual assets in Dubai, except for those pertaining to the Dubai International Financial Centre. The focus is primarily on serving institutional and qualified investors.

This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework. — Omar Elassar, Managing Director

VARA, established in March 2022, oversees the provision and exchange of digital assets across Dubai’s mainland and free zones.

Animoca to Serve Institutional Investors in Dubai

The license, issued on February 5, allows Animoca Brands to operate under VARA’s oversight and serve institutional investors.

Animoca Brands plays a significant role in developing blockchain platforms and supporting Web3 ecosystems, including projects like The Sandbox, Open Campus, and Moca Network. Their investment portfolio features over 600 companies and digital asset projects.

In January, the company also acquired Somo, a gaming and digital collectibles firm, thereby enhancing its collection of blockchain-based ventures.

Crypto Firms Expanding Operations in Dubai

Animoca’s licensing is part of a larger trend, with numerous crypto businesses setting up compliant operations in Dubai. For instance, in October 2025, BitGo also secured a broker-dealer license from VARA to facilitate regulated digital asset trading in the region.