Nomura’s Laser Digital Secures Second Crypto License in UAE
- Laser Digital has secured a new license in the UAE.
- This comes after Dubai’s VARA granted the company an operating license last year.
- Several other crypto companies have successfully expanded to the UAE.
Nomura’s crypto division, Laser Digital, now holds two operational licenses in the United Arab Emirates (UAE).
On June 19, Laser Digital announced that it had completed its licensing process to offer certain services “in and from” the Abu Dhabi Global Market (ADGM), almost ten months after it obtained operating license approval from Dubai’s Virtual Asset Regulatory Authority (VARA).
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VARA’s license allowed Laser Digital to provide virtual asset (VA) broker-dealer Services and VA Management and Investment services from its Dubai entity.
Laser Digital’s Second License
According to the official press release , the Financial Services Regulatory Authority (FSRA) of Abu Dhabi has approved the issuance of a Financial Services Permission (FSP) to Laser Digital (AD) Limited.
With the license, the company has permission to offer broker-dealer and asset/fund management services for both virtual assets and traditional assets while based out of the ADGM.
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Arvind Ramamurthy, ADGM’s Chief of Market Development, welcomed Laser Digital to the new market, noting that the company’s offerings aligned with FSRA and ADGM’s “international best practices and progressive regulatory ecosystem.”
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Laser Digital’s second win in UAE underscores the region’s growing reputation as a crypto hub .
Crypto Companies Flocking to UAE
The UAE has recently attracted crypto service providers and Web3 companies, positioning itself as a hub for regulated digital asset activities.
In April, the world’s largest crypto exchange by trade volume, Binance, entered Dubai’s retail crypto market after receiving its long-awaited VASP license from VARA via its local subsidiary.
A month later on May 7, QCP Capital secured initial approval to enter ADGM, becoming the first Singapore-based crypto market maker and broker to be granted such operational approval in the UAE.
Other companies that have established a presence in the region include crypto exchange OKX and on-chain security firm Chainalysis.
Read about Crypto.com’s recent win in Dubai:
Crypto.com Secures Full Operational License from Dubai’s VARA
Stay updated on El Salvador’s Bitcoin bank:
El Salvador Builds Bitcoin Bank to Bolster Foreign Investment
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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