Animoca Brands Gains Regulatory Nod to Operate as Fund Manager in Abu Dhabi

In a significant development for the cryptocurrency and blockchain sector, Animoca Brands has secured in-principle approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to operate as a regulated fund manager. This approval, announced on November 24, 2025, allows the Hong Kong-based Web3 investor to manage collective investment funds in or from ADGM, focusing on blockchain gaming, non-fungible tokens (NFTs), and digital assets.

This regulatory milestone enables Animoca Brands to expand its institutional footprint in the Middle East, building on its existing presence in Dubai. The company, which backs over 600 portfolio companies, can now pursue capital formation and fund structures with enhanced regulatory clarity. Omar Elassar, Managing Director for the Middle East at Animoca Brands, emphasized that this move supports their regional strategy to build regulated, institutional pathways for participation in Web3 and digital assets.

Concurrently, Animoca Brands is advancing its return to public markets through a non-binding reverse merger agreement with Nasdaq-listed Currenc Group, targeting a valuation of approximately $1 billion by the end of 2026. If completed, Animoca shareholders would own about 95% of the combined entity. The approval process in Abu Dhabi requires Animoca to meet specific conditions, including base capital thresholds, system finalizations, and personnel visas, before obtaining full Financial Services Permission to commence regulated activities like trading and custody services for virtual assets.