Animoca Brands Secures Key Dubai VASP License in Boost for Web3 Expansion

Unlike many regulatory approvals that function largely as symbolic achievements, the VARA authorization enables immediate operational activity. Under the license, Animoca Brands can provide regulated broker-dealer services as well as virtual asset management and investment services from Dubai, excluding the separate Dubai International Financial Centre (DIFC) jurisdiction. The services are aimed at institutional clients and qualified investors globally.

For a company that built its reputation on early-stage Web3 investments, blockchain gaming and NFT ecosystems, the license marks a deliberate shift toward regulated financial infrastructure. Animoca Brands has invested in or partnered with more than 600 Web3-related companies and projects over the past decade, spanning digital property rights, decentralized gaming, tokenization and blockchain-based education platforms.

The company described the license as an important milestone that strengthens its ability to operate within a well-regulated framework while expanding engagement with Web3 foundations and institutional investors.

The approval also reflects Dubai’s broader regulatory ambitions. VARA was created under Dubai Law No. 4 of 2022 with a mandate to regulate virtual asset activities across Dubai’s mainland and most free zones, positioning the emirate as a structured yet innovation-friendly hub for digital assets. VARA maintains a public register of licensed VASPs and the specific categories of services they are permitted to offer, ranging from custody and exchange to broker-dealer and management services.

The distinction between VARA and DIFC is notable. DIFC operates under its own regulator, the Dubai Financial Services Authority (DFSA), which maintains a separate digital asset framework. In recent years, DFSA has implemented additional restrictions around certain token categories, highlighting how the UAE’s regulatory landscape includes multiple oversight structures operating in parallel.

Against a global backdrop of fragmented crypto regulation, Dubai’s model has attracted firms seeking clarity. While the European Union has rolled out its Markets in Crypto-Assets (MiCA) framework and U.S. regulators continue to rely heavily on enforcement actions and agency interpretations, VARA offers a purpose-built regime specifically tailored to virtual assets. This clarity reduces operational uncertainty for firms looking to serve institutional clients.

Animoca Brands’ license appears less about retail expansion and more about institutional positioning. The company’s portfolio includes projects such as The Sandbox, Open Campus, and Moca Network, all operating within broader Web3 ecosystems. By securing a VASP license, Animoca can now function not only as an investor and ecosystem builder, but also as a regulated intermediary offering structured services under formal oversight.

Omar Elassar, managing director for Middle East and head of Global Strategic Partnerships at Animoca Brands, stated: “Receiving the VASP licence from VARA is an important milestone for Animoca Brands’ operations, particularly in Dubai and the Middle East. This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework, and reflects our commitment to building and operating responsibly as digital asset markets continue to mature.”

The significance of such licenses extends beyond individual firms. Institutional investors, including sovereign wealth funds, family offices and asset managers, increasingly require counterparties to operate under clear regulatory frameworks before allocating capital. A full VASP license can therefore function as both a compliance tool and a signaling mechanism, demonstrating alignment with internationally recognized governance standards.

Dubai’s strategy appears to center on becoming a connective corridor between Asia, Europe and the Gulf, leveraging regulatory structure as a competitive advantage. Over the past two years, several exchanges, custodians and digital asset service providers have secured VARA approvals, gradually building an ecosystem that blends innovation with oversight.

Animoca Brands’ approval adds a globally recognized Web3 investment group to that roster. Whether the move translates into substantial capital inflows or expanded product offerings remains to be seen, but the strategic implications are clear: as crypto markets mature, regulatory legitimacy is becoming inseparable from long-term growth.

The license reinforces Dubai’s ambition to anchor the next phase of digital asset evolution within a regulated, institutional-ready framework. It also marks a transition for Animoca Brands, shifting from primarily a Web3 venture backer to operating directly within one of the world’s most closely watched crypto regulatory environments.