Key Takeaways:
- Laser Digital, Nomura’s cryptocurrency division, has received a broker license in Abu Dhabi, enabling it to manage traditional and digital assets.
- The license from the Financial Services Regulatory Authority of Abu Dhabi underscores Laser Digital’s dedication to compliance and the UAE’s supportive regulatory environment.
- The UAE is becoming a hub for crypto firms, with recent regulatory approvals and expansions by companies like QCP Capital, Chainalysis, Binance, and the Solana Foundation.
Nomura’s cryptocurrency division, Laser Digital, has secured a broker license in Abu Dhabi, allowing it to manage both traditional and digital assets.
The Financial Services Regulatory Authority of Abu Dhabi granted Laser Digital a Financial Services Permission (FSP) license, completing its full licensing process with the Abu Dhabi Global Market (ADGM).
Today, the world received exciting news that Nomura’s cryptocurrency arm, Laser Digital Limited, has successfully received a broker license in the Abu Dhabi region for both traditional and digital assets. This milestone comes after the Financial Services Regulatory Authority of… pic.twitter.com/K5pctu9jQT
— NOI Exchange (@ExchangeNoi) June 19, 2024
CEO Jez Mohideen highlighted the license as a significant milestone, emphasizing Laser Digital’s commitment to compliance and contributions to the virtual asset industry in the UAE.
He praised ADGM’s progressive regulations, which attracted Laser Digital to expand into Abu Dhabi.
ADGM’s chief of market development, Arvind Ramamurthy, expressed enthusiasm for Laser Digital joining their financial community, aligning with ADGM’s best practices and regulatory framework.
The Central Bank of the UAE recently approved a stablecoin licensing system, further indicating the region’s support for the crypto industry.
Other firms, including QCP Capital, Chainalysis, Binance, and the Solana Foundation, have also expanded their presence in the UAE, attracted by the favorable regulatory environment.