Laser Digital of Japan’s Nomura Holdings has received an in-principle license from the Abu Dhabi Global Market (ADGM).
Pending the fulfillment of specific conditions, Laser Digital is set to obtain a license as a broker-dealer and asset/fund manager for both cryptocurrencies and traditional assets.
An in-principle license is a preliminary approval granted by a regulatory authority to a company or individual that intends to engage in a particular activity or business.
It is a conditional approval that indicates that the applicant has met the initial requirements for the license but still needs to fulfill additional conditions before receiving the full license.
Laser Digital and the Digital Asset Market
Laser Digital is a digital asset business backed by Nomura Holdings, a global financial services company. It provides scalable and robust opportunities across trading, asset management, and ventures.
Laser Digital is run by Steven Ashley as Chairman and Jez Mohideen as CEO. It is focused on providing new value in the area of digital assets to its clients.
Laser Digital is a fully segregated entity from Nomura, and it is building everything from scratch to prevent any risks to its parent company.
With a keen interest in the digital financial world, it launched a Bitcoin Adoption Fund for institutional investments in September while gaining a license to operate in Dubai last month.
Laser Digital has also shared a vision of launching its trading platform soon. Following this, it will focus on three core areas: secondary trading, venture capital, and investor products.
UAE and crypto regulatory framework
The UAE offers a diverse range of regulatory regimes for cryptocurrencies, including the ADGM and VARA.
These regulatory frameworks reveal the nation’s commitment to fostering a vibrant and diversified digital asset ecosystem.
Arvind Ramamurthy, Chief of Market Development at ADGM, enthusiastically welcomed the partnership with Laser Digital saying that Laser’s offerings align with ADGM and FSRA’s international best practices and progressive regulatory ecosystem, emphasizing the addition of Laser to their robust financial community.
