Nomura’s Crypto Arm Gains Operating License Approval in Dubai

Laser Digital will start its trading and asset management business in the coming months.

AccessTimeIconAug 1, 2023 at 9:41 a.m. UTC
Updated Aug 1, 2023 at 10:23 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Laser Digital, the digital asset asset subsidiary of financial services giant Nomura, has received an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA), the final stage of the licensing process, the company said in a statement Tuesday.

Laser Digital Middle East, which is based in the emirate, can now offer virtual asset (VA) broker-dealer services and VA management and investment services having completed all four stages of the process, it said.

  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    What's Next for FIT21?
  • Dubai introduced a licensing program earlier this year, and companies including and OKX are in the process of reaching full approval. Binance, the world’s largest crypto exchange, won a license to operate in Dubai in July.

    The unit plans to start its trading and asset management business in the coming months, offering over-the-counter (OTC) trading services and a range of digital asset investment products, the company said.

    “VARA’s thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class,” said Laser Digital CEO Jez Mohideen.

    Edited by Sheldon Reback.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Author placeholder image

    Will Canny is CoinDesk's finance reporter.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

    Read more about