Animoca Brands Secures VARA VASP License to Serve Institutional Clients

Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling the company to broaden its crypto operations across the Middle East. The license permits the Hong Kong-founded Web3 investor and platform developer to offer broker-dealer services and investment management related to virtual assets in and from Dubai, excluding the Dubai International Financial Centre.

VARA’s public register shows the license was issued on Feb. 5 and allows Animoca to serve institutional and qualified investors under VARA’s oversight. Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands, said, “This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework.” VARA, established in March 2022, regulates and oversees the provision, use and exchange of digital assets across Dubai's mainland and free zones.

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