Nomura’s Laser Digital to Offer Crypto Trading and Asset Management in Abu Dhabi
Laser Digital, the digital asset arm of the global financial services group Nomura, has achieved a significant milestone by obtaining a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This approval marks the successful completion of Laser Digital's licensing process with ADGM.
What This Means
The FSP license allows Laser Digital to offer broker-dealer and asset management services for both virtual assets and traditional assets within ADGM. Located in Abu Dhabi’s international financial center and free zone, ADGM is a growing hub for financial services.
Company Leadership
The UAE entity of Laser Digital is led by CEO Jez Mohideen, with Ramin Shayesteh serving as the Head of Distribution. In his statement, Mohideen expressed eagerness to contribute to the virtual asset industry in the UAE. "We are eager to contribute responsibly to the virtual asset industry in the UAE," said Mohideen. "We have always been committed to upholding the highest standards of compliance and regulations at ADGM, and we look forward to contributing to ADGM's ecosystem."
Backed by Nomura
Laser Digital is backed by the Japanese financial services giant Nomura and was originally established in the second half of 2022 in Switzerland, a country known for its crypto-friendly regulations. Over the years, the company has expanded its reach by acquiring licenses in various regions, including the Middle East.
Growing Presence in Abu Dhabi
With the ADGM approval, Laser Digital joins a growing number of digital asset firms establishing a presence in Abu Dhabi. The United Arab Emirates (UAE) continues to position itself as an industry hub for digital assets. Arvind Ramamurthy, Chief of Market Development at ADGM, commented, "We're delighted to welcome Laser Digital as we expand our financial community to include partners such as Laser, whose offerings align with ADGM and the FSRA's international best practices and progressive regulatory ecosystem."
Future Plans in Japan
In addition to its activities in Abu Dhabi, Laser Digital is also focusing on Japan. The company is among three firms aiming to introduce a new cryptocurrency product known as "Stablecoin-as-a-Service" in Japan. They are working on issuing JPY and USD stablecoins in the country. Furthermore, Laser Digital has strengthened its leadership in Japan by appointing Hideaki Kudo as a Representative Director and the head of its newly established office in Tokyo.
By stepping into the UAE market with regulatory approval, Laser Digital is well-positioned to contribute to Abu Dhabi's evolving financial landscape while expanding its global footprint.
