Animoca Brands, a leading Web3 and blockchain gaming investor, has obtained a full Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). The license, officially issued on February 5, 2025, authorizes the company to offer broker-dealer and investment management services for virtual assets to institutional and qualified investors from its Dubai base, excluding the Dubai International Financial Centre.
Omar Elassar, Managing Director for the Middle East at Animoca Brands, stated, "This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework." The license is a significant regulatory milestone, allowing Animoca to legally expand its suite of services—including NFT marketplace operations, blockchain game distribution, and digital wallet services—across the Middle East and North Africa (MENA) region under VARA's oversight.
The move aligns with broader regional strategies, such as the UAE's goal to process 50% of government transactions on-chain by 2030. It also follows a trend of crypto firms establishing regulated operations in Dubai; for instance, BitGo secured a similar broker-dealer license in October 2025. VARA, established in March 2022, has been actively regulating the sector, having previously issued penalties against 19 companies for unlicensed activities.
Analysts view the license as a sign of Dubai's evolving regulatory maturity. Dr. Leila Ahmed, a fintech policy researcher, noted it signals a shift "from cautious experimentation to fully integrating large-scale virtual asset operators into the formal economy." Animoca Brands, known for backing projects like The Sandbox, Open Campus, and Moca Network, holds a portfolio of over 600 companies. This development is expected to catalyze local Web3 development, attract investment, and strengthen Dubai's position as a global crypto hub.
