popular company from the finance world has decided to build its presence in the
United Arab Emirates (UAE), which is increasingly becoming a hub for
Digital Middle East FZE, a digital asset subsidiary of Nomura operating out of
Dubai, announced today (Tuesday) its successful acquisition of a Virtual Asset
Service Provider (VASP) license from the emirate’s Virtual Asset Regulatory
Authority (VARA). This allows Laser Digital to extend its services in the UAE.
Nomura’s Laser Digital
Opens for Cryptocurrencies in Dubai
license approval enables Laser Digital to provide Virtual Asset (VA)
Broker-Dealer Services and VA Management and Investment Services, thereby
boosting its position in the digital asset sector. The company, under the
leadership of the CEO Jez Mohideen and the Head of Distribution Cameron Dickie,
is planning to launch its Trading and Asset Management businesses. The main
goal is to bring a suite of digital asset investment products and solutions to
last year by Nomura, Laser Digital was the brainchild of Steven Ashley, the
former head of Nomura’s wholesale division, and Jez Mohideen, Nomura’s former
Chief Digital Officer and Co-Head of Global Markets EMEA. Laser Digital is headquartered
in Switzerland but operates from London and Dubai.
occasion, Mohideen stated his gratitude towards VARA for approving their
operating license and expressed optimism about Laser Digital’s future growth.
thorough and consultative process provides institutional investors with the
assurance they require to engage in this asset class. With the license now in
place, we are looking forward to Laser’s growth over the coming years”
Normua is the latest financial sector firm to enter the rapidly expanding
cryptocurrency industry in the UAE and Dubai. Along with numerous
cryptocurrency exchanges, like Binance, brokers and investment banks such as
ATFX and CMC Markets have also entered the scene.
Dubai Leverages Crypto
situation demonstrates that cryptocurrencies have not earned regulators’
confidence in the US and Europe. Thus, like many other exchanges, it has sought
other safe havens, landing in places like the UAE and Hong Kong.
In light of
regulatory hurdles in Europe and the USA, the Middle East may become the
primary hub for the crypto industry. This is evident from the recent movements
by Binance and their acquisition of another local license.
local market could have considerable potential concerning the number of retail
investors interested in trading. The increasing number of active traders in the
FX/CFD market substantiates this.
„New traders continue to be attracted by an ability to trade with small amounts and their desire to learn a new skill. Market volatility has also been a more effective prompt this year,” Lorenzo Vignati, the Associate Research Director at Investment Trends, explained this trend.
This article was written by Damian Chmiel at www.financemagnates.com.