Laser Digital Middle East FZE, Nomura’s Dubai-based digital asset subsidiary, announced Tuesday that it has received operating license approval from Dubai’s Virtual Asset Regulatory Authority (VARA) completing the final stage in VARA’s licensing process.

The grant of this operating license permits Laser Digital to provide Virtual Asset (VA) Broker-Dealer Services and VA Management and Investment Services from its Dubai entity, Laser Digital said in a statement.

With the new license approval, Laser Digital is set to launch their Trading and Asset Management businesses in the coming months, offering institutional investors OTC trading services and a comprehensive range of digital asset investment products and solutions.

Laser Digital is a digital asset business redefining the frontier of digital finance.

The firm was launched last autumn by Nomura and was co-founded by Steven Ashley, who previously led Nomura’s wholesale division and Jez Mohideen, who was Nomura’s Chief Digital Officer and Co-Head of Global Markets – Europe, the Middle East and Africa (EMEA).

Laser Digital delivers scalable, robust opportunities across trading, asset management, and ventures.

Headquartered in Switzerland, with offices in Dubai and London, Laser Digital combines the rigor, best practices and capabilities from global investment banking with the experience of a crypto-native team.

The firm is led by Chief Executive Officer Jez Mohideen, with Cameron Dickie as Head of Distribution.

“VARA’s 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 Digital’s growth over the coming years,” said Jez Mohideen.

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