Animoca Brands Receives Abu Dhabi Approval for Regulated Fund
- Animoca Brands gains Abu Dhabi approval for a regulated fund.
- Institutional expansion strengthens in the Middle East.
- Potential increase in Web3 investments and asset tokenization.
Animoca Brands received in-principle approval from the Abu Dhabi Global Market’s FSRA to manage a regulated fund, enhancing its Middle Eastern presence on October 23, 2023.
This development highlights Animoca’s expansion strategy in trusted markets, potentially bolstering investor confidence and signifying increased institutional interest in Web3 investments.
Animoca Brands Secures Key Approval in Abu Dhabi
Animoca Brands has received in-principle approval from the Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate as a regulated fund manager. This approval marks a strategic advancement in its ongoing Middle Eastern and institutional expansion plans.
Key players involved include Yat Siu, Co-founder and Executive Chairman of Animoca Brands, who is pivotal in promoting digital asset adoption, and Arvind Ramamurthy of ADGM. Siu’s role is crucial for public announcements and expansion activities.
“Our in-principle approval from ADGM marks a significant step in our commitment to expand into regulated markets, providing institutional investors with safe and effective avenues for investment.” – Yat Siu, Co-founder & Executive Chairman, Animoca Brands
The approval is expected to impact Animoca’s ability to offer regulated collective investment vehicles for institutional investors. This supports their goal to tokenize real-world assets, with significant potential developments in the financial market.
The regulatory shift underscores confidence in a trusted and transparent digital asset environment, enhancing Abu Dhabi’s status as a leading center for Web3 investments. This move is aligned with other regulatory efforts in the region.
Insights suggest this approval may lead to broader acceptance of digital assets in regulated environments. Increased institutional participation is anticipated, paralleling trends in global cryptocurrency adoption owed to such regulatory frameworks.
Future implications might involve greater regulatory clarity and support for technological infrastructure investments. The move could stimulate more partnerships and innovations, advancing Animoca’s diverse investments, including those on XRP XRP +8.29% Ledger and in collaboration with Hang Feng Technology.
