Animoca Brands, a global digital assets firm, announced Monday it has received a virtual asset service provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA).

The firm said in a statement that the VASP license authorizes Animoca Brands to commence operations and to provide virtual asset (VA) Broker‑Dealer Services and VA Management and Investment Services in and from the Emirate of Dubai (excluding the Dubai International Financial Centre), for global institutional and qualified investors.

The firm expects the VASP Lisense to support its continued expansion in the Middle East and its ability to deliver regulated digital asset services and investment activities in and from Dubai.

VARA was established in 2022 pursuant to Dubai Law No. 4 of 2022 as the competent authority responsible for regulating, supervising, and overseeing virtual assets and virtual asset activities across the Emirate of Dubai.

VARA is the world’s first independent regulator for virtual assets and plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for virtual asset industry governance, while supporting the vision for a borderless economy.

Animoca Brands builds digital asset platforms, including Moca Network, Open Campus, Anichess, and The Sandbox, as well as various institutional-grade platforms.

It also provides digital asset services to help crypto companies launch and grow, and it invests in frontier digital asset technologies and projects, with a portfolio of over 600 companies and digital assets.

“Receiving the VASP license from VARA is an important milestone for Animoca Brands’ operations, particularly in Dubai and the Middle East,

“This license 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,” said Omar Elassar, managing director for Middle East and head of Global Strategic Partnerships at Animoca Brands.

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