Animoca's UAE License Cements Dubai's Web3 Ambitions as Global Crypto Hub

Animoca Brands, a leading Web3 investor known for its stake in metaverse platforms like The Sandbox and Axie Infinity, has taken a regulatory step into the crypto brokerage sector with an in-principle license from Dubai's Virtual Assets Regulatory Authority (VARA). The approval, granted to its subsidiary Animoca Brands Middle East Advisory FZCO, marks the company's formal entry into facilitating crypto trading, building on its decade-long role as a Web3 innovator, according to a Cryptopolitan report.

Founded in 2014 by Yat Siu and David Kim, Animoca Brands has invested in over 540 Web3 companies, amassing a portfolio with a combined token market capitalization exceeding $45 billion, according to a Coinotag report. The firm's expansion into the UAE began in 2025 with the opening of a Dubai office, led by Managing Director Omar Elassar. This move aligns with the region's growing demand for Web3 infrastructure, as companies migrate to the Gulf's favorable regulatory environment. Animoca's Dubai office aims to serve as a hub for local and international partnerships, fostering innovation in blockchain gaming, NFTs, and metaverse development, as Cryptopolitan noted.

The in-principle VARA approval allows Animoca to operate as a virtual asset service provider (VASP), offering crypto brokerage services under Dubai's evolving regulatory framework. This step underscores Dubai's ambition to position itself as a global Web3 hub, with VARA's oversight ensuring compliance and security for investors. The company's prior investments in the region, including a $7 million funding round for UAE-based Param Labs in 2024 and a $50 million commitment to Saudi Arabia's NEOM Investment Fund, highlight its strategic focus on the Gulf's blockchain ecosystem, as reported by Coinotag.

Industry analysts view the approval as a pivotal moment for Animoca, bridging its role as an investor with direct participation in crypto trading. "This license not only legitimizes Animoca's operations in Dubai but also signals confidence in the UAE's regulatory maturity," said a source familiar with the firm's strategy. The move also aligns with broader trends: PwC reported $2.4 billion in Middle East blockchain investments in 2024, with Dubai emerging as a top destination for crypto ventures.

The approval follows a year of aggressive expansion for Animoca. In 2024, it partnered with NEOM to develop Web3 infrastructure, while its 2025 Dubai office reflects a broader strategy to capitalize on the region's progressive policies. By integrating regulated trading services with its existing portfolio, Animoca aims to streamline access to Web3 assets for both institutional and retail investors, leveraging its expertise in gamification and NFTs, as Cryptopolitan reported.