Animoca Brands secured In-Principle Approval from ADGM in Abu Dhabi to operate as a regulated fund manager, marking a significant milestone in institutional digital asset management.
This approval positions Animoca to expand its institutional investment products, facilitating increased digital asset fund activity in the region, potentially impacting cryptocurrencies like ETH and BTC.
Animoca Brands has received in-principle approval from Abu Dhabi Global Market’s FSRA to operate as a regulated fund manager, marking a regulatory milestone. This enables Animoca to structure and manage institutional investment products for digital assets.
Led by Yat Siu, Animoca Brands is well-regarded in blockchain gaming and Web3 investments. The recent approval by ADGM’s FSRA allows them to manage collective investment funds in Abu Dhabi. This approval is subject to final regulatory consent.
Institutional Investors Eye Animoca’s New Fund Opportunities
The approval may facilitate increased institutional participation in digital asset management. It’s a notable step in enhancing Animoca’s capabilities to expand investment products, targeting institutional investors and compliant fund launches in the future. Industry leaders anticipate this move to bolster Animoca’s ability to invest in core digital assets like ETH and BTC. Insights reveal that regulated funds could attract more institutional interest, further driving the growth of Web3 technologies.
Abu Dhabi’s Crypto Hub Status Strengthened by Approval
Previously, firms such as Binance and Kraken obtained similar approvals, enhancing market stability for ETH and BTC. Past approvals in the Middle East have led to significant increases in institutional inflows and digital asset market growth. According to expert analysis, this regulatory approval aligns with ongoing efforts by ADGM to nurture a compliant digital asset environment. The move could foster regional advancements in digital finance, positioning Abu Dhabi as a central crypto fund hub.
This achievement reflects Animoca Brands’ commitment to operating within ADGM’s dynamic ecosystem, which has become an important center for digital assets fund management,” said Arvind Ramaurthy, Chief Market Development Officer, ADGM
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