Animoca Brands secures in-principle approval to operate as a fund manager in Abu Dhabi
PositiveCryptocurrency
- Animoca Brands has received in-principle approval to operate as a fund manager in Abu Dhabi, marking a significant step in its regulatory strategy within the cryptocurrency sector. This early approval allows the company to pursue a fund management license, aligning with its goals for expansion in the region.
- This development is crucial for Animoca Brands as it seeks to enhance its presence in the Middle East's burgeoning cryptocurrency market. The fund management license will enable the company to attract investments and manage funds, potentially increasing its influence and operational capacity in the region.
- The approval comes at a time when Abu Dhabi is actively increasing its investments in cryptocurrencies, as evidenced by the Abu Dhabi Investment Council's recent tripling of its stake in Bitcoin. This trend reflects a growing acceptance of digital assets in the region, positioning Abu Dhabi as a key player in the global cryptocurrency landscape.
— via World Pulse Now AI Editorial System