Dubai

Force

Dubai's financial landscape has witnessed a significant development with the awarding of a full crypto licence to Laser Digital Middle East FZE, a subsidiary of Nomura Holdings Inc.&nbsp; 
This move marks one of the initial full permits granted by Dubai since its revamp of the digital asset regulatory framework. Laser Digital, with its roots in Nomura, is poised to make a significant impact in the crypto space. The newly acquired licence empowers the firm to offer Virtual Asset Broker-Dealer Services and Virtual Asset Management and Investment Services.&nbsp; 
As reported by Bloomberg and Reuters, Laser Digital is gearing up to introduce over-the-counter (OTC) trading services and a diverse array of digital asset investment products tailored for institutional investors.&nbsp; 
The inception of Laser Digital can be traced back to last year, a venture co-founded by Steven Ashley, former leader of Nomura's wholesale division, and Jez Mohideen, who once held the roles of Nomura’s Chief Digital Officer and Co-Head of Global Markets EMEA.&nbsp; 
With headquarters in Switzerland and other offices in Dubai and London, Laser Digital blends the best practices of global investment banking with the expertise of a team deeply rooted in the crypto domain. Jez Mohideen, the driving force behind Laser Digital, expressed his gratitude towards the Virtual Asset Regulatory Authority (VARA) for the licence approval.&nbsp; 
“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. With the licence now in place, we are looking forward to Laser’s growth over the coming years.” Slow but sure global adoption&nbsp; 
Perhaps it is still happening quite slowly, but the world contenders to become the main hub for the global crypto market appear to be getting their regulatory ducks in a line and are starting to attract the kind of institutional firms, such as Nomura, that will take the crypto sector forward into the next stage of adoption. 
Dubai is likely to have some heavy competition from its fellow Asian jurisdictions of Hong Kong and Singapore, while in Europe, the UK, France and others are looking to become crypto hubs. However, in the US, the regulatory environment is still sluggish and anything but clear. A move en masse out of this jurisdiction could still happen. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Nomura's Laser Digital: A New Crypto Force in Dubai

Crypto Daily™

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