Animoca Brands Corporation Ltd has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the international financial centre of Abu Dhabi in the UAE, to operate as a regulated fund manager.
Subject to meeting conditions and obtaining final regulatory sign-off, the approval would allow Animoca Brands to conduct the activity of Managing a Collective Investment Fund in or from ADGM.
“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,” Omar Elassar, Managing Director for Middle East and Head of Global Strategic Partnerships at Animoca Brands, said.
Expanding Middle East footprint
Animoca Brands is a global digital assets company focused on blockchain and tokenised assets, with three integrated business lines: Web3 businesses aimed at driving blockchain adoption, digital asset advisory services and investment management. Its investment portfolio spans more than 600 companies.
The group is expanding its presence in the Middle East, where it already operates in Dubai to support Web3 initiatives in the region. The IPA is described as an important step in strengthening its institutional capabilities and regulated footprint globally, subject to local approvals and licences.
“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,” ADGM chief market development officer Arvind Ramamurthy, said.