Animoca Brands has secured a Virtual Asset Service Provider licence from Dubai Virtual Assets Regulatory Authority, enabling it to expand regulated crypto services across the Middle East.
The licence, issued on Feb. 5, permits Animoca to offer broker-dealer and investment management services related to virtual assets in and from Dubai, excluding the Dubai International Financial Centre, and is aimed primarily at 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,”
Said Omar Elassar, managing director for the Middle East at Animoca Brands.
VARA, established in 2022, oversees digital asset activity across Dubai’s mainland and free zones, and has stepped up enforcement against unlicensed virtual asset providers in recent months.
Animoca Brands backs more than 600 portfolio companies and projects, including The Sandbox, and recently acquired gaming and digital collectibles firm Somo to expand its blockchain-based ecosystem.
The approval adds to a growing list of crypto firms establishing regulated operations in Dubai, including BitGo, which obtained a broker-dealer licence from VARA in 2025.
Dubai’s tightening oversight and targeted licensing regime have positioned the emirate as a key regional hub for institutional digital asset activity.