TechFlow news, on October 24, according to Cryptopolitan, Animoca Brands has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to enter the cryptocurrency brokerage business. According to information from VARA's official website, Animoca Brands has received in-principle approval for a virtual asset service provider (VASP) license as a cryptocurrency broker under the name "Animoca Brands Middle East Advisory FZCO".
Animoca Brands entered the UAE market in 2025, establishing an office in Dubai and appointing Omar Elassar as Managing Director. The company holds a substantial portfolio of Web3 projects, including well-known projects such as The Sandbox, Axie Infinity, and Pudgy Penguins, with the market capitalization of tokens issued by its portfolio companies exceeding $45 billion.
