Nomura's Laser Digital Obtains VASP License in Dubai

Japanese financial services group Nomura announced today that its digital assets subsidiary Laser Digital has been granted a virtual asset service provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA).

This follows Nomura's opening new premises​ in Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia, in order to expand its International Wealth Management business in the region.

According to the official press release, with the new license, Nomura is intended to launch a broker-dealer as well as management and investment services in Dubai through Laser Digital Middle East FZE, Nomura’s Dubai-based digital asset subsidiary, 

"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's growth over the coming years," said Nomura's Co-Head of Global Markets EMEA Jez Mohideen.

Laser Digital joins a range of companies growing their presence in Dubai. Shortly before, Binance​'s Dubai subsidiary, Binance FZE, has become the first exchange to receive the Operational Minimum Viable Product (MVP) license from the VARA. And OKX's subsidiary in the Middle East, OKX Middle East Fintech FZE, has secured the MVP Preparatory license in the region.

In addition, in May, Standard Chartered​ unveiled its plans to launch digital asset custody services in the DIFC subject to regulatory approval.