Animoca Brands, a Hong Kong-based digital asset venture capital firm, has obtained a virtual asset service provider (VASP) licence in Dubai, CoinDesk reported on Feb. 16 local time.
The approval allows Animoca Brands to operate broker-dealer services as well as digital asset management and investment services in Dubai.
Dubai is accelerating moves to bring the crypto industry into the regulatory mainstream after setting up the Virtual Assets Regulatory Authority (VARA) in 2022. Major crypto exchanges including Binance and OKX have also received regulatory approval in Dubai.
Animoca Brands manages more than 600 blockchain investments. It also provides crypto treasury management and digital asset infrastructure services for institutional investors.
Chi-gyu Hwang
delight@d-today.co.kr