A Japanese financial holding company, Nomura’s Dubai-based digital asset subsidiary, Laser Digital, announced that it obtained an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA).
This license allows Laser Digital to offer various digital asset services in Dubai, including broker-dealers and asset management services. It will also provide trading and over-the-counter (OTC) services in the future.
Jez Mohideen, chief executive of Laser Digital said, “We are very grateful to VARA for approving our Operating Licence. VARA’s thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class.”
The move is part of Nomura’s efforts to establish a strong presence in the digital asset space. Dubai’s growing crypto ecosystem has garnered global attention, and several other companies, such as Binance also received licenses to operate in Dubai.
The operating license granted to Laser Digital by Dubai’s VARA reflects the increasing acceptance and regulatory maturity of the crypto industry. This move strengthens Nomura’s position in the digital asset space and signals Dubai’s emergence as a significant player in the global crypto ecosystem.
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