Animoca Brands has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), in hopes of becoming a regulated fund manager within one of the region’s most prominent financial hubs.
The approval, announced on November 24, allows the digital assets powerhouse to move closer to securing full authorization to manage a collective investment fund within ADGM. Final permission remains subject to meeting remaining regulatory requirements set by the FSRA.
The move strengthens Animoca Brands’ global push to expand its regulated presence and deepen its institutional capabilities. Known for its broad footprint in blockchain, tokenized assets, and Web3 development, the company operates across three core business areas: Web3 infrastructure and product development, digital asset advisory services, and investment management. Its investment portfolio spans more than 600 companies worldwide.
The Middle East has become a key focus for Animoca Brands’ growth strategy. The firm already maintains operations in Dubai to support rising demand for Web3 activity in the region, and the latest approval from ADGM positions the company to play a more substantial role in shaping institutional participation in digital assets across the UAE.
“The UAE is emerging as a major center for Web3 and digital asset innovation,” said Omar Elassar, Managing Director for the Middle East and Head of Global Strategic Partnerships at Animoca Brands. “This in-principle approval reinforces our commitment to building regulated, institutional pathways for engagement in the sector while continuing to support founders and enterprises across the ecosystem.”
ADGM welcomed the milestone as a sign of growing confidence in its regulatory environment.
“We congratulate Animoca Brands on receiving their in-principle approval, an important step on the path to full authorization,” said Arvind Ramamurthy, Chief Market Development Officer at ADGM. “Their progress highlights the strength of ADGM’s ecosystem in fostering trusted and transparent innovation in blockchain and digital assets.”
