Nomura’s Laser Digital Secures Abu Dhabi License
Laser Digital Limited, the cryptocurrency arm of Nomura, recently secured a broker license in Abu Dhabi for both traditional and digital assets. This notable achievement was granted by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi, concluding the company’s full licensing process with the Abu Dhabi Global Market (ADGM). The license obtained will enable Laser Digital to offer broker-dealer, asset management, and fund management services within the region, encompassing both digital and traditional assets.
The approval represents a significant breakthrough for Laser Digital. Jez Mohideen, CEO of Laser Digital, expressed his enthusiasm, emphasizing the company’s commitment to contributing responsibly to the virtual asset industry in the UAE. Mohideen stated that adherence to the highest standards of compliance and regulation is a priority, and he is eager to enhance ADGM’s dynamic ecosystem.
The issuance of this license follows nearly nine months after Laser Digital received in-principle approval from ADGM in September 2023. The company’s decision to expand into Abu Dhabi was influenced by the region’s favorable crypto regulations. According to Mohideen, Abu Dhabi was chosen for its progressive and transparent regulatory approach, which is supported by thorough cross-industry dialogue and collaboration, including within the digital asset sector.
Arvind Ramamurthy, ADGM’s chief of market development, welcomed Laser Digital, highlighting the region’s enthusiasm for embracing innovative crypto firms. He emphasized that Laser Digital’s offerings are consistent with ADGM’s international best practices and regulatory standards, which aim to create a progressive financial ecosystem.
Reflecting this innovation-friendly atmosphere, the Central Bank of the United Arab Emirates (CBUAE) recently approved the issuance of a new stablecoin licensing and monitoring system. This step further solidifies the region’s position as a burgeoning hub for cryptocurrency activities.
The UAE has been attracting a growing number of cryptocurrency service providers and Web3 companies. For instance, in early May, QCP Capital, a crypto options trading platform, received in-principle approval from ADGM for regulated digital asset activities. This milestone made QCP the first Singapore-based crypto market maker and broker to obtain a preliminary license in Abu Dhabi.
Adding to this momentum, Chainalysis, a leading on-chain security firm, established its regional headquarters in Dubai in May. The firm has been actively collaborating with local government stakeholders to provide advice on regulatory development and best practices within the crypto industry, aiming to foster innovation.
In another significant development, Binance, the world’s largest cryptocurrency exchange by volume, acquired a Virtual Asset Service Provider license in Dubai in April. This achievement came after co-founder Changpeng Zhao relinquished his voting power within the exchange’s local entity, demonstrating the firm’s commitment to compliance and regulatory excellence.
In February, ADGM signed a memorandum of understanding with the Solana Foundation. This collaboration aims to advance the development of distributed ledger technology, further enhancing the regulatory framework and fostering technological innovation within the region.
39 thoughts on “Nomura’s Laser Digital Secures Abu Dhabi License”
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Kudos to Laser Digital! This approval is a significant milestone for the crypto and traditional asset markets in the region.
Traditional finance is getting dragged into the mess that is the crypto world. Can’t say I’m thrilled about it.
Incredible news! Laser Digital is setting the standard with this broker license. Abu Dhabi is becoming a crypto hub!
Crypto is too volatile and risky. Why would anyone trust Laser Digital with their assets?
Well done! 🎉 Laser Digital’s success shows the UAE’s dedication to fostering a progressive financial ecosystem. 🌍
Their commitment to ‘compliance and regulation’ sounds nice, but we’ve seen too many scams in the crypto world to believe it completely. 🧐
Amazing developments! 🌟 Laser Digital’s new license is a strong indication of Abu Dhabi’s promising crypto future. 👏
This is huge! 🎉 Hats off to Laser Digital for navigating the regulatory landscape so successfully. Onward to greater heights! 🚀
Fantastic achievement for the whole crypto community! Laser Digital securing this license is a testament to the UAE’s forward-thinking approach.
I can’t help but feel skeptical about this ‘significant breakthrough.’ Sounds like a disaster waiting to happen.
So thrilled to hear about Laser Digital’s success! 🌐 This broker license is a game-changer for the industry in Abu Dhabi. Well done! 👍
Congrats to Laser Digital on this excellent achievement! Their strategic expansion into Abu Dhabi shows great foresight.
Wonderful news! Laser Digital securing this license is a big win for the UAEs financial market. Cheers to more success!
Let’s be real, digital assets are still largely speculative. Banking on them this much is a gamble. 🎲
Another crypto firm setting up shop? This bubble is going to burst, and people are going to lose a lot of money. 💣
Excellent achievement! Laser Digitals new broker license will significantly enhance the regions financial landscape.
Congratulations Laser Digital! This broker license is a pivotal step forward for the crypto market in Abu Dhabi.
Bravo Laser Digital! The UAE is clearly leading the way in crypto regulation. Cant wait to see whats next.
Way to go Laser Digital! 👏 Gaining this license demonstrates the UAE’s robust regulatory environment. Exciting times ahead! 🌟
Fantastic! 👏 Laser Digital’s achievement speaks volumes about the UAE’s supportive regulatory framework for digital assets. 🌍
The volatile nature of both digital and traditional assets makes this a reckless move. Do we really need more financial instability? 😬
Great news! Laser Digitals new license will definitely boost the regions reputation as a crypto-friendly hub.
Amazing news for Laser Digital and Abu Dhabi! The regulatory landscape is really shaping up. Kudos to the team!
Given the recent volatility in the crypto market, this seems like a precarious path. Why encourage more risk-taking?
So excited for Laser Digital! Their success is a testament to the UAEs commitment to regulatory excellence in the crypto space.
Impressive milestone! 🎉 Laser Digital is paving the way for more innovations in the UAE’s digital asset sector. 🚀
Way to go Laser Digital! This achievement is a testament to the growing crypto-friendly environment in Abu Dhabi.
Congrats to Laser Digital! This is a huge step for the crypto and traditional asset markets in the UAE. The future looks bright!
Abu Dhabi’s regulations might be favorable, but that doesn’t make the asset class any less risky. Proceed with caution.
I get the need for innovation, but the digital asset space is too unpredictable. Laser Digital is taking a huge risk.
Well deserved! Laser Digitals commitment to compliance and innovation is clearly paying off. The UAE is the place to be!
Huge congratulations! This license marks a new era for Laser Digital and the broader crypto industry in the UAE.
I don’t get the hype around cryptocurrency. Traditional assets have stood the test of time way better. 🎢
Brilliant news! 🎉 Laser Digital securing this license in Abu Dhabi is a huge leap forward for the industry. 🚀
Big win for Laser Digital! Their commitment to high compliance standards is commendable. Onwards and upwards!
Why Abu Dhabi? Isn’t this just a way to bypass stricter regulations elsewhere? 🤔
Why is everyone suddenly acting like crypto is the future? We’ve seen how quickly these things can crash.
How many more broker licenses do we need? Feels like everyone’s jumping on the crypto bandwagon without a clue. 😒
More licenses, more risks. Not sure this is something to celebrate.