Animoca Brands Obtains Dubai License for Middle East Expansion
Animoca Brands has secured a crypto asset license from Dubai's Virtual Assets Regulatory Authority (VARA), enabling it to offer services to institutional and qualified investors in the region.
Animoca Brands, a global leader in blockchain gaming and metaverse development, has officially received a virtual asset license from Dubai's Virtual Assets Regulatory Authority (VARA). This significant development, approved on February 5th, grants Animoca Brands the regulatory approval to operate within the emirate.
The license permits Animoca Brands to engage with both institutional and qualified investors within Dubai's burgeoning digital asset market. Operating under VARA's stringent oversight, the company is now positioned to expand its suite of Web3 services and offerings across the Middle East.
This strategic move by Animoca Brands underscores Dubai's commitment to becoming a global hub for the virtual asset industry. The regulatory framework established by VARA aims to foster innovation while ensuring investor protection and market integrity.
Securing this license marks a pivotal moment for Animoca Brands' regional growth strategy. It allows the company to further its mission of driving the adoption of digital property rights and decentralized technologies within a key international market.
Originally reported by CoinTelegraph.