Dubai has granted a coveted full crypto license to a subsidiary of Japanese financial giant Nomura Holdings Inc., according to BNN Bloomberg.
This license represents further progress in Dubai’s ongoing pledge to position itself as a dominant hub within the crypto landscape, coming days after Binance received an MVP Operational permit from Dubai.
The Nomura subsidiary, Laser Digital Middle East FZE, will now be able to offer a comprehensive suite of virtual asset broker-dealer and investment management services within Dubai, BNN Bloomberg reported.
Looking ahead, Laser Digital plans to launch over-the-counter trading services and digital-asset investment products targeted at institutional investors in the forthcoming months.
As quoted by BNN Bloomberg, Jez Mohideen, the CEO of Laser Digital, expressed optimism about the potential of this development. Mohideen stated,
“We will innovate in the asset class and come up with products that suit the institutions in the virtual asset space.”
Laser Digital, which boasts a significant presence in Switzerland, Dubai, and London, considers Dubai an attractive location due to its dedicated regulator for virtual assets and a thriving cryptocurrency market.
The licensing of Nomura’s subsidiary underscores the Middle East progressively warming to cryptocurrencies and blockchain technology. Dubai’s business-friendly policies and regulatory oversight are setting a precedent for the future trajectory of the crypto market amid global regulatory issues.
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