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Nomura’s Crypto Arm Granted Licence by Dubai’s VARA, Becomes First Firm to Obtain the Full VASP Licence

1 August 2023
in News
Reading Time: 3 mins read
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Home News

Laser Digital, the crypto unit of Japanese banking giant Nomura, has been granted a full crypto license by Dubai’s Virtual Asset Regulatory Authority (VARA). The Virtual Asset Service Provider (VASP) allows the firm to carry out broker-dealer & management and investment services. 

This VARA license is granted to VASPs that meet all the stipulated criteria in the Virtual Assets and Related Activities Regulations of 2023. It enables VASPs to provide authorized Virtual Asset services to retail customers, institutional customers, and qualified investors.

Laser Digital is the first firm to achieve the “Full VASP Licence”, which allows it to provide services to retail customers as well as institutional customers and Qualified Investors.  

Crypto giant, Binance recently obtained the more limited “MVP Operational” license, which enables it to serve only “qualified retail and institutional clients.”

Jez Mohideen, CEO of Laser Digital, had this to say about the license:

“We are very grateful to VARA for approving our Operating Licence. VARA’s thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class. With the licence now in place, we are looking forward to Laser’s growth over the coming years.” 

Through Laser Digital, Nomura will be able to offer institutional investors over-the-counter (OTC) trading services and a full range of digital asset investment products and solutions. 

Laser Digital was launched in September 2022 by Nomura and was co-founded by Steven Ashley, who previously led Nomura’s wholesale division, and Jez Mohideen, who was Nomura’sChief Digital Officer and Co-Head of Global Markets EMEA.

Dubai is keen to attract global players in the crypto space and has created a dedicated regime for it. This has attracted the likes of Nomura, Binance, Bybit, OKX, and Koinmanu.

 

 If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Tags: DubaiLaser DigitalNomura
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