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KEY POINTS
- Animoca Brands got a VASP licence in Dubai after approval from Dubai’s Virtual Assets Regulatory Authority.
- Readers should note the VARA VASP licence scope excludes Dubai International Financial Centre activities.
- The licence supports virtual asset broker-dealer offerings plus crypto asset management for qualified investors.
- Regional expansion links to a 2025 Dubai office and a wider Web3 investment strategy.
Dubai’s Virtual Assets Regulatory Authority, known as VARA, issued the approval on February 16, 2026.
The approval enables Animoca Brands to provide brokerage services (from Dubai) to global customers, and the same permission includes the right to provide management and/or investment services for institutional users of their services.
The Dubai International Financial Centre is outside the authorized, geographically defined scope of the services covered by this approval.
Regulators created the framework to create higher standards of corporate governance and better protect investors in all of Dubai.
VARA started up as a separate, standalone virtual asset regulator in 2022
In addition to promoting higher standards of corporate governance, VARA also promotes a borderless economy through support of compliant cross-border activity using digital assets. Animoca Brands has had a presence in Dubai since opening a new office in 2025 in order to establish more regionally focused partnerships.
Leaders of the Company were looking to increase the volume of deals that they are working on and assist regional founders who are developing blockchain products.
An “in principle” approval was received from VARA in October 2025, which initiated a two-stage review process.
Upon completion of the second stage of the review process, final approval will be granted, and upon grant of final approval, Animoca Brands will be formally licensed to operate. To me, regulatory clarity is the greatest value that regulators can deliver to large investors when they are making decisions related to how to access markets. Omar Elassar, Managing Director for the Middle East at Animoca Brands, stated his thoughts regarding this development: “This VASP Licence obtained by VARA represents an important milestone for the operations of Animoca Brands,” Elassar said.
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Animoca Brands was granted a VASP licence in Dubai
Brokerage permissions relate to dealing activities for virtual assets as brokers/dealers to qualified investors, both domestically and internationally. Asset management permissions relate to investment services that are generally used to support portfolios that use permissible virtual asset strategies. Both types of services require significant controls over custody, risk checks, and client suitability reviews. Generally, qualified investors have to meet specific minimum wealth or experience requirements to qualify as such investors.
When considering whether to enter into business relationships with counterparts located in jurisdictions where there are no direct regulatory equivalents to those found in the U.S., institutional investors may seek clarification on the existence of licenses of this type. The VARA oversight provides an additional layer of local regulation, providing local regulatory rules and enforcement mechanisms within Dubai. The License also indicates a path forward for other entities that wish to gain compliant access to the Dubai markets.
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A VARA VASP license provides a more straightforward method of engaging regulated counterparties
For Animoca Brands, Dubai provides closer proximity to a pool of potential capital allocators and project developers in the Middle East. Animoca Brands currently holds a portfolio consisting of more than 600 Companies/Digital Assets across numerous sectors.
Portfolio holdings include Moca Network and Open Campus, as well as numerous other web3 investment positions. Due to the size of its portfolio, Animoca Brands is generating significant demand for structured services, particularly in the areas of brokerage and investment workflow processes.
The approval also facilitates the ability of Animoca Brands to develop deeper working relationships with regional partners in various areas, including media, gaming, education, and payment processing. Animoca Brands received a VASP license in Dubai at a time when the level of competition for both capital and talent is growing in the Middle East. Market participants would be wise to continue to monitor future announcements made by Animoca Brands regarding the rollout of products, partner engagement,s and service delivery timelines.
Similarly, clients seeking to utilize the services provided by Animoca Brands would need to confirm that they meet the eligibility criteria as qualified investors and complete any required onboarding documents.
Animoca Brands received a VASP license in Dubai, and the accomplishment enhances the overall preparedness of Animoca Brands to operate in the Middle East.
