Animoca Brands Receives Virtual Asset Service Provider License from Dubai VARA

TheNewsCryptoPublished on 2026-02-16Last updated on 2026-02-16

Abstract

Animoca Brands has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling the company to legally offer virtual asset brokerage, management, and investment services in Dubai, excluding the Dubai International Financial Center. The license allows Animoca to operate within a regulated framework and engage with institutional and qualified investors. This milestone supports the company’s expansion in the Middle East and reflects its commitment to compliant operations in the growing digital asset market. The approval aligns with recent regulatory updates from the Dubai Financial Services Authority. Additionally, Animoca recently acquired Web3 gaming and NFT startup SOMO, further strengthening its presence in the NFT and digital collectibles sector.

Animoca Brands received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA), which marks an important regulatory step that allows the company to offer legal virtual asset brokerage, management, and investment services.

Hong Kong–based company, Animoca Brands, which specializes in blockchain gaming and other Web3 technologies had gained a VASP licence. With that, now able to provide investing and broker-dealer services in Dubai, except the Dubai International Financial Center. Additionally, it enables the company to operate within a regulated framework with qualified and institutional investors.

VARA License Strengthens Regional Presence

The announcement was released on February 16, where Omar Elassar, managing director for the Middle East and head of Global Strategic Partnerships at Animoca Brands, said: “Receiving the VASP licence from VARA is an important milestone for Animoca Brands’ operations, particularly in Dubai and the Middle East.”

Further, he added, “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 license complies with the January 2026 Dubai Financial Services Authority (DFSA) revision of the framework governing the Dubai International Financial Center, as it banned privacy-focused cryptos and tightened the stablecoin rules, which underscores the importance of operating within a well-regulated digital asset environment.

With that, Animoca Brands acquired SOMO, a Web3 gaming and NFT startup, expanding its Web3 ecosystem by adding SOMO’s NFT gaming assets in the second week of the Janauary 2026, further strengthening the company’s presence in the digital collectibles sector.

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TagsAnimoca BrandDubaiVARA

Related Questions

QWhat type of license did Animoca Brands receive from Dubai VARA?

AAnimoca Brands received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).

QWhat specific services does the VASP license allow Animoca Brands to offer in Dubai?

AThe VASP license allows Animoca Brands to offer legal virtual asset brokerage, management, and investment services in Dubai, except within the Dubai International Financial Center.

QAccording to Omar Elassar, why is receiving the VASP license significant for Animoca Brands?

AOmar Elassar stated that receiving the VASP license is an important milestone that enhances their ability to engage with Web3 foundations and global investors within a well-regulated framework, reflecting their commitment to operating responsibly.

QHow did the Dubai Financial Services Authority's January 2026 revision impact the regulatory environment?

AThe January 2026 revision by the Dubai Financial Services Authority (DFSA) banned privacy-focused cryptocurrencies and tightened stablecoin rules, underscoring the importance of operating within a well-regulated digital asset environment.

QWhat recent acquisition did Animoca Brands make to expand its Web3 ecosystem?

AAnimoca Brands acquired SOMO, a Web3 gaming and NFT startup, adding SOMO's NFT gaming assets to its ecosystem and strengthening its presence in the digital collectibles sector.

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