Animoca enters Dubai with VARA license, targeting institutional capital
Animoca Brands has obtained a Virtual Asset Service Provider license in Dubai. The move will allow the company to expand its crypto services across the Middle East and work more closely with large-scale investors.
The license was issued by Dubai’s Virtual Assets Regulatory Authority (VARA) on Feb. 5. This was reported by the Animoca Brands press service on February 16. Animoca can now provide broker-dealer services and investment management related to digital assets in and from Dubai, excluding the Dubai International Financial Centre. The company will primarily focus on institutional and qualified investors.
Animoca said the license strengthens its ability to collaborate with Web3 foundations and global investors within a clearly regulated framework.
Crypto regulation in Dubai
VARA, established in March 2022, oversees the regulation, use and exchange of digital assets across Dubai’s mainland and free zones. The emirate has been actively building its reputation as one of the world’s leading crypto hubs. Clear rules and transparent requirements reduce risks for major investors and make the region more attractive to international capital.For the broader market, this signals that major players continue to choose jurisdictions with transparent regulation. In the long term, this trend could intensify competition among financial centers and accelerate the development of global standards for digital asset oversight.
Earlier, we reported that Standard Chartered, in partnership with Web3 leader Animoca Brands and telecom giant HKT, launched a stablecoin pegged to the Hong Kong dollar (HKD).
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