Nomura’s Laser Digital Receives Financial Services Permission from ADGM
The financial services industry is constantly evolving, especially with the rise of digital assets and cryptocurrencies. One recent development that has caught the attention of many in the industry is Laser Digital, the digital asset arm of global financial services group Nomura, receiving a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
This approval is significant as it allows Laser Digital to provide broker-dealer and asset management services for both virtual assets and traditional assets within ADGM, Abu Dhabi’s international financial center and free zone. Led by CEO Jez Mohideen and Head of Distribution Ramin Shayesteh, Laser Digital is poised to make a positive impact on the virtual asset industry in the UAE.
Established in Switzerland in 2022, Laser Digital has quickly expanded its reach by acquiring licenses in various regions, including the Middle East. With the ADGM approval, Laser Digital joins a growing list of digital asset firms establishing a presence in Abu Dhabi, further solidifying the UAE’s position as a hub for the industry.
Arvind Ramamurthy, Chief of Market Development at ADGM, welcomed Laser Digital to the financial center’s community, highlighting the company’s alignment with international best practices and progressive regulatory ecosystem. Additionally, Laser Digital is working on introducing a new cryptocurrency product in Japan, specifically “Stablecoin-as-a-Service,” and collaborating on the issuance of JPY and USD stablecoins in the country.
Nomura’s crypto subsidiary has also made strategic leadership appointments, further strengthening Laser Digital’s position in the market. Hideaki Kudo has been appointed as a Representative Director and head of Laser’s newly established office in Tokyo, signaling the company’s commitment to growth and innovation in the digital asset space.
Overall, Laser Digital’s FSP approval marks a significant milestone in the company’s journey and sets the stage for further expansion and success in the digital asset industry. Stay tuned for more updates as Laser Digital continues to make waves in the financial services sector.
