Nomura’s Laser Digital Secures Second Crypto License in UAE

Laser Digital secures a second crypto brokerage license in the United Arab Emirates (UAE).

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  • 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.

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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“Our team at Laser is delighted with this significant milestone, and we are eager to contribute responsibly to the virtual asset industry in the UAE. We have always been committed to upholding the highest standards of compliance and regulations at ADGM, and we look forward to contributing to ADGM’s ecosystem,” Laser Digital CEO Jez Mohideen said.

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

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.