Dubai’s VARA Grants Full Crypto License to Laser Digital

• Laser Digital is the cryptocurrency division of the Japanese banking giant, Nomura.
• Recently, Binance FZE, the Dubai subsidiary of Binance, received an MVP license from VARA.

The Virtual Asset Regulatory Authority (VARA) of Dubai has issued a full crypto license to Laser Digital, the cryptocurrency division of the Japanese banking giant, Nomura. Last Thursday, Dubai approved Laser Digital’s license, allowing the company to legally provide its services to both consumers and businesses.

According to a press release, the Swiss-based firm will begin offering trading and digital asset management services in the region in the coming months.

Facilitating Growth

This license authorizes Laser Digital, led by CEO Jez Mohideen and Head of Distribution Cameron Dickie in Dubai, to offer Trading and Asset Management operations, providing OTC trading services to institutional clients as well as a full suite of digital asset investment products and solutions.  

Laser Digital CEO Jez Mohideen stated:

“We are very grateful to VARA for approving our Operating Licence. VARA’s thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class. With the licence now in place, we are looking forward to Laser’s growth over the coming years.”

Laser Digital offers scalable, reliable options in trading, asset management, and ventures and is backed by Nomura, one of the biggest banks in Japan.

The United Arab Emirates (UAE) created VARA in 2022 to establish guidelines for the management of virtual assets including cryptocurrencies and non-fungible tokens. The Gulf region is looking to diversify its economy by luring cryptocurrency companies to its shores.

Recently, Binance FZE, the Dubai subsidiary of Binance, received a minimum viable product (MVP) license from the Virtual Assets Regulatory Authority (VARA) of Dubai to operate as an exchange and broker-dealer in the region. Thus, allowing it to provide services to qualified institutional and retail investors.

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• Source: https://thenewscrypto.com/dubais-vara-grants-full-crypto-license-to-laser-digital/