Dubai continues to methodically assemble the infrastructure required to host the next financial era.
According to an official announcement published on 16 Feb by Animoca Brands,
the Hong Kong-based digital asset conglomerate has received a full
Virtual Asset Service Provider (VASP) licence from the Virtual Assets
Regulatory Authority (VARA) of Dubai. $BTC
The licence officially
authorises Animoca Brands to operate as a broker-dealer and provide
virtual asset management and investment services for global
institutional and qualified investors. It effectively solidifies the
regulated bridge between the capital reserves of the Gulf and the global Web3 ecosystem.
The
firm manages a portfolio valued at $5bn spanning more than 600
companies, including established entities like The Sandbox and various
institutional-grade onchain
platforms. By bringing a company of this scale fully into its
regulatory fold, Dubai is cementing its status as a premier destination
for serious institutional capital.
Securing the regulatory framework
The
strategic implications of this ongoing drive are clear. The crypto
industry has faced complex enforcement actions from US agencies and a
bureaucratic stalemate in jurisdictions like South Korea. Meanwhile,
VARA has spent recent years quietly providing clear, functional
rulebooks for major Web3 outfits.
By operating within the emirate -
excluding the Dubai International Financial Centre - Animoca Brands can
now engage with sovereign wealth funds, institutional investors and
qualified family offices under a globally recognised framework. They are
building the plumbing required for traditional finance to safely allocate capital into decentralised assets. $TAO
Animoca Brands has historically been a central player in the development of digital property rights and the open metaverse.
Securing the VASP licence allows them to offer a suite of tailored
financial products that comply with strict local guidelines. This
includes the ability to manage bespoke investment mandates and execute
complex onchain transactions for high-net-worth clients who demand
traditional financial safeguards.
Capital naturally gravitates to
clear regulatory environments. Dubai is actively licensing the
mega-funds that will influence the Web3 economy.