Animoca Brands Wins Final ADGM Permission to Manage Investment Funds From Abu Dhabi

The Hong Kong-based digital asset and Web3 group said on November 2 that its subsidiary, Animoca Asset Management (AD) Limited, had been granted a Financial Services Permission by ADGM's Financial Services Regulatory Authority (FSRA). The permission covers managing a collective investment fund in or from ADGM.

According to Blockhead, the FSRA's public register lists the permission under number 250097, effective October 13, 2026, which is several weeks before the announcement. The approval completes a process that began in November 2025, when the FSRA granted Animoca in-principle approval on condition that it met requirements before running funds.

The announcement did not name a fund or give a target size, investor base or launch date. Blockhead reported that the permission covers investment management only and that a separate regulated custodian would hold fund assets. FinanceFeeds-style trade outlets and crypto news sites described the custody arrangement in slightly different terms, but agreed that Animoca will not hold client assets itself.

Minh Do, senior executive officer and director of the Abu Dhabi unit, called the permission "a critical milestone for Animoca's operations in the Middle East", according to Blockhead. ADGM's chief market development officer, Arvind Ramamurthy, welcomed the move and said it would strengthen links between institutional capital and digital assets in the financial centre.

Building a Gulf Footprint

The ADGM permission adds to a licence Animoca secured from Dubai's Virtual Assets Regulatory Authority in February 2026, which allows broker-dealer and investment services in that emirate. Animoca has tied the fund management business to a broader push into institutional blockchain infrastructure, tokenised assets and the use of agentic AI with Web3 systems.

The approval comes as the company looks for another route to public markets. In November 2025, Animoca announced a reverse merger with Nasdaq-listed Currenc Group, but on September 22 the two companies suspended the deal, citing the closing timeline and market conditions. Executive chairman Yat Siu has said the company will keep pursuing a listing. The November 2 announcement did not mention one.

Why It Matters

Abu Dhabi has been trying to attract asset managers, including those working in digital assets, to ADGM. The centre reported that assets under management rose 54 per cent year on year in the first half of 2026, and that it now hosts 190 fund and asset managers and 276 funds. A licensed fund manager from one of the best-known names in the crypto and Web3 sector adds to that count. It also gives Gulf institutional investors a locally regulated channel to Animoca's strategies, though the firm has yet to say what its first fund will be.