“Animoca Brands received in-principle approval from Abu Dhabi’s FSRA to operate as a regulated fund manager within ADGM.”, — write: www.coindesk.com
Final approval would see Animoca Brands permitted to manage collective investment funds from within ADGM, helping it strengthen its institutional footprint in the Middle East.
Animoca already maintains a presence in Dubai and has been positioning the region as a key hub for Web3 growth.
The company, which revealed plans to for a public listing on Nasdaq earlier this month, said the approval aligns with its goal to build regulated, compliant pathways for global institutional participation in Web3.
“The UAE is a growing hub for activity in Web3 and digital assets,” said Omar Elassar, Animoca’s managing director for the Middle East. “This approval supports our regional strategy to build regulated, institutional pathways for participation.”
The company manages a portfolio of over 600 Web3 investments, positioning it as one of the industry’s largest and most active backers.
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There is not a lot of time left for Congress to make meaningful progress this year on crypto issues.
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