Animoca brands to launch Collective Investment Fund and crypto brokerage in UAE

Animoca Brands today has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial in Abu Dhabi to operate as a regulated Fund Manager. Once final approval is provided, Animoca Brands will be able to carry out the activity of Managing a Collective Investment Fund in or from the ADGM. Already Animoca Brands has an in-principle approval from VARA to operate a crypto brokerage firm.

According to the announcement, the company has three integrated business pillars, Web3 to advance Blockchain, digital asset advisory services, and investment management. It already has an investment portfolio of over 600 companies.

This is part of Animoca’s Brands expansion into the MENA region, where it has already set up an office in Dubai.

Omar Elassar, Managing Director for Middle East and Head of Global Strategic Partnerships at Animoca Brands, said: “The UAE is a growing hub for activity in Web3 and digital assets. This in-principle approval supports our regional strategy to build regulated, institutional pathways for participation while continuing to partner with founders and enterprises across the ecosystem.”

Arvind Ramaurthy, Chief Market Development Officer, ADGM said, “We congratulate Animoca Brands on receiving their IPA, a key step toward full Financial Services Permission. This achievement reflects their commitment to operating within ADGM’s dynamic ecosystem. ADGM is dedicated to enabling businesses like Animoca to advance the adoption of blockchain and digital assets within a trusted, transparent, and well-regulated environment”.