Dubai licenses Animoca Brands to expand institutional Web3 services

Animoca Brands, a Hong Kong-based Web3 leader, has been granted a Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Assets Regulatory Authority (VARA), enabling the Web3 powerhouse to provide broker-dealer and asset management services to institutional and qualified investors in and from the emirate.

Announced on Monday, the license allows Animoca to operate across Dubai, excluding the Dubai International Financial Centre (DIFC). The move follows Animoca Brands Japan’s new partnership with Rootstock Labs to create Bitcoin-native treasury solutions for Japanese corporations aiming to manage digital assets more actively.

The collaboration will adapt Rootstock’s institutional Bitcoin (BTC) infrastructure to meet the specific needs of the Japanese market.

Dubai seeks to establish itself as an international crypto hub

With a unique license, Animoca was allowed to provide asset management and professional broker-dealer services to qualified and institutional investors, enhancing its Web3 asset portfolio service in Dubai and beyond.

The license would also allow Animoca to do business in the broader city in the United Arab Emirates. However, it doesn’t include the Dubai International Financial Centre. Meanwhile, driven by the ongoing development of organized digital asset systems, the region is bolstering operational frameworks to improve supervision.

Yat Siu, co-founder and executive chairman of Animoca Brands, commented, focusing on growth in the company’s institutional RWA products. He stressed, “The emphasis on institutional clients from Dubai is key for them and strategic.” Siu also said that, “VARA and UAE/Dubai have exhibited exceptional leadership by welcoming and helping companies like mine, describing the region as one of the smartest, most forward-looking and supportive places for crypto on the whole.”

Several analysts weighed in on the situation. They conducted research and discovered that the Animoca Brands press service reported on February 16 that Dubai’s VARA issued the license on February 5.

Meanwhile, it is worth noting that the emirate has implemented several measures to position itself as a leading international crypto hub. Some of these measures include transparent regulations and open requirements. These two measures play a key role in reducing threats to significant investors and in enhancing the region’s attractiveness to foreign capital.

This finding demonstrates that key industry players continue to favor markets with clear, established rules. In the long run, this trend could intensify competition among global financial hubs and accelerate the development of international regulatory standards for digital assets.

Amber Premium demonstrates a strong commitment to regulatory compliance

Similar to Animoca, Amber Premium, a leading provider of institutional-grade digital asset financial services and solutions, also secured a green light from Dubai’s Virtual Assets Regulatory Authority to enable its local subsidiary to function as an authorized virtual asset service provider.

Regarding this significant milestone, reports noted that the in-principle approval, announced near the end of last year, signaled that Amber Premium FZE was in the final phase of obtaining full approval for virtual asset activities in the UAE.

On the other hand, Michael Wu, CEO and chairman of Amber Premium, viewed this achievement as a key advancement toward the company’s objective of delivering institutional-grade digital wealth management on a regional scale.

Regarding this outlook, Wu mentioned that, “VARA’s in-principle approval is a milestone in our long-term build. We are deliberate in pacing growth with governance.” Afterwards, he highlighted the company’s commitment to regulatory compliance as a top priority.