Laser Digital Receives Operating License for Trading and Asset Management Business
Laser Digital, the digital asset subsidiary of Nomura, has obtained an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). This marks the final stage of the licensing process for Laser Digital Middle East, enabling them to offer virtual asset broker-dealer services and management and investment services.
Key Points:
– Laser Digital completes all four stages of the licensing process in Dubai.
– Dubai introduced a licensing program earlier this year, with companies like Crypto.com and OKX in the approval process.
– Binance, the world’s largest crypto exchange, already received a license to operate in Dubai.
– Laser Digital plans to launch its trading and asset management business in the coming months.
– The company will provide over-the-counter (OTC) trading services and various digital asset investment products.
Laser Digital CEO Jez Mohideen stated that VARA’s thorough and consultative process gives institutional investors the confidence to engage in this asset class.
Hot Take:
Laser Digital’s receipt of the operating license is a significant milestone in its journey to establish itself as a leading player in the crypto industry. This move not only demonstrates the growing acceptance of cryptocurrencies and virtual assets but also provides institutional investors with the necessary assurance to explore this emerging asset class. With its plans to offer a range of investment products and OTC trading services, Laser Digital aims to cater to the needs of crypto enthusiasts and investors alike.
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