Nomura Holdings’ digital-asset subsidiary Laser Digital Middle East FZE has been awarded a full cryptocurrency license to offer virtual asset broker-dealer and investment management services in Dubai, according to a report by Bloomberg.
In a statement the firm said it is also planning to launch over-the-counter trading services and digital-asset investment products for institutional investors in the coming months.
Laser Digital, which launched last autumn, is headquartered in Switzerland and has offices in London and Dubai, with the emirate being chosen because it has a dedicated regulator for virtual assets and a growing cryptocurrency market, according to Jez Mohideen, the firm’s chief executive officer.
Laser’s new license is one of the first granted by Dubai since it overhauled its regulatory regime for digital assets in the wake of several high-profile blowups including Sam Bankman-Fried’s FTX.
