Laser Digital bags Dubai VARA licence for Nomura's crypto arm
Acquiring a new license
Nomura's cryptocurrency division has successfully acquired an operational license from the Virtual Asset Regulatory Authority (VARA) in Dubai, as the Japanese financial holding company strategically ventures into the digital asset realm. Laser Digital Middle East FZE, the Dubai-based digital asset subsidiary of Nomura, announced on August 1, highlighting that the newly obtained Virtual Asset Service Provider (VASP) license positions them to provide broker-dealer services, virtual asset management, and investment services within the emirate.
In addition to broker-dealer services, the license grants Laser Digital the authority to engage in various trading and asset management activities in the coming months. This includes over-the-counter services and the introduction of a diverse range of digital asset investment products and solutions.
“VARA’s thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class,” said Jez Mohideen, CEO of Laser Digital. “With the license now in place, we are looking forward to Laser’s growth over the coming years.”
Established in September 2022 under the umbrella of Nomura, Laser Digital was conceived by Steven Ashley, the former head of Nomura's wholesale division, and Mohideen, who previously served as the chief digital officer and co-head of global markets for Europe, the Middle East, and Africa within the holding. The company is headquartered in Switzerland, with additional offices in Dubai and London.
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