Laser Digital, the crypto arm of Japanese investment bank Nomura Holdings Inc, has successfully secured an operating license from Dubai’s Virtual Asset Regulatory Authority.
This milestone marks another mainstream financial institution venturing into the crypto sector amid the ongoing surge in cryptocurrency markets.
Laser Digital Middle East FZE, the subsidiary of Nomura, is keen on seizing the potential opportunities within Dubai’s vibrant cryptocurrency market. The company plans to introduce innovative products tailored to institutional investors operating in the virtual asset space.
The license permits Laser Digital to provide a range of crypto-related services, including broker-dealer, management, and investment offerings.
With headquarters in Switzerland and offices in Dubai and London, Laser Digital is poised to launch its trading and asset management business in the coming months, extending access to institutional investors over-the-counter crypto trading and various investment products.
The granting of this highly sought-after license demonstrates Dubai’s dedication to establishing itself as a major player in the worldwide cryptocurrency arena.
Expansion of crypto services
Recently, Binance also obtained an MVP Operational permit from Dubai, underscoring the city’s increasing enthusiasm for nurturing the expansion of the crypto sector.
Laser Digital’s CEO, Jez Mohideen, expressed enthusiasm for the company’s development, stating that the company aims to innovate in the asset class and create products specifically designed for institutions in the virtual asset space.
Europe, along with Dubai in the Middle East, is making efforts to attract the crypto industry. Societe Generale’s recent acquisition of a crypto services license in France highlights the growing interest among mainstream banks to embrace the cryptocurrency sector.
Far in the US, the SEC is concerned with differentiating between securities and commodities for crypto assets. After the recent judgment that XRP, by Ripple, is not a security, the SEC affirmed its resolve to see the court’s decision notified going forward.
