Animoca Brands, a global digital assets leader building and investing in impactful technologies and ecosystems to reimagine future economies, has officially announced the approval of a Virtual Asset Service Provider (VASP) Licence from Dubai’s Virtual Assets Regulatory Authority (VARA). The hidden purpose behind this approval is to provide Virtual Asset (VA) Broker-Dealer services to worldwide institutions, both within and outside of Dubai.
Basically, VARA was designed in 2022 pursuant to Dubai Law No. 4 of 2022 as the efficient authority responsible for maintaining, observing, and balancing virtual assets and virtual asset activities around the Emirate of Dubai. VARA has a unique place in Dubai’s regulatory framework for the protection of virtual assets, enabling an international standard for virtual asset industry governance. Animoca Brands has released this news through its official social media X account.
Animoca Brands Enhances Web3 Growth with Regulatory Milestone in Dubai
Animoca Brands has earned a good reputation in terms of facilitating companies in digital asset perspectives. These companies are now able to deal with digital assets in a better way, such as Moca Network, Open CAMPUS, Anichess, and The Sandbox, with various institutional-grade platforms.
In addition, Animoca Brands also provides sufficient support to crypto companies for launching and growing, and also facilitates them with better technological experience in different projects. Animoca Brands has a satisfying portfolio of more than 600 companies and digital assets. Basically, this step is to provide significant support to digital assets dealing in Dubai and the Middle East as a priority.
Animoca Brands Elevates Dubai’s Digital Asset Ecosystem with VASP Licence
Animoca Brands wants to uplift the status of Dubai in terms of providing extraordinary services to ensure that digital assets are dealt with in Dubai and the Middle East as well. It is the best opportunity for Dubai’s people to benefit from this landmark opportunity and make their dreams come true in life.
Omar Elassar, Managing Director for the Middle East and head of Global Strategic Partnership at Animoca Brands, expressed his views about this. He said, “Receiving the VASP licence from VARA is an important milestone for Animoca Brands’ operations, particularly in Dubai and the Middle East. This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework, and reflects our commitment to building and operating responsibly as digital asset markets continue to mature.”
