Animoca Brands Secures ADGM FSRA in‑principle Approval for Fund Management
PositiveCryptocurrency
- Animoca Brands has secured in-principle approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi to establish a fund management business, marking a significant advancement in its regulatory strategy within the UAE's cryptocurrency sector. This approval allows the company to pursue a fund management license, enhancing its operational capabilities in the region.
- This development is crucial for Animoca Brands as it aims to solidify its presence in the rapidly evolving digital asset market. The approval signifies the company's commitment to adhering to regulatory standards, which is essential for fostering trust and attracting institutional investors in the cryptocurrency space.
- The approval comes at a time when Abu Dhabi is actively positioning itself as a hub for digital assets, evidenced by the Abu Dhabi Investment Council's increased investments in Bitcoin and other digital currencies. This trend reflects a broader acceptance and integration of cryptocurrencies within traditional financial frameworks, highlighting the region's strategic focus on innovation and digital finance.
— via World Pulse Now AI Editorial System