Laser Digital Middle East FZE obtains its full crypto asset license in Dubai, following the lead of other platforms.
Laser Digital obtains its crypto asset provider license in Dubai
The United Arab Emirates are becoming a favored destination for supporters of digital assets. For good reason, Laser Digital, the subsidiary of Japanese company Nomura, recently obtained its crypto service provider license from the VARA. With this license, the company will now be able to provide virtual asset (VA) broker-dealer and crypto investment and management services via its Dubai entity.
Launched last year by Nomura, Laser Digital is a crypto company redefining the boundaries of digital finance. To achieve its goals, it relies on robust, scalable opportunities in management, enterprise and trading. What’s more, the team motivated by the conviction of a more responsible commitment to cryptocurrencies, works to market standards of compliance, sustainability and risk.
Obtaining its full license is a further step for Laser Digital which is preparing to launch its activities in the region.
In the coming months, the company will provide institutional investors with OTC trading and asset management services to enhance their crypto investment.
The United Arab Emirates, a hub for virtual assets?
According to Joe Mohideen, the CEO from Laser Digital, the company is grateful to the VARA for approving its operating license. Now that it has completed the process, we look forward to seeing how it develops over the coming years.
However, the company is not the first to obtain a license in Dubai. Indeed, Binance obtained its operational license last month, becoming in the process the first crypto exchange platform to reach this milestone. What’s more surprising is the extent to which the region is increasingly attracting crypto entrepreneurs.
According to statistics from Dubai Multi Commodity Centre (DMCC), the Emirate has registered nearly 500 crypto companies since 2021. But if the freezone, in its expansion strategy, had decided to help high-impact companies in the sector, this doesn’t prevent it from taking strict measures. BitOasis recently paid the price, with the suspension of its operating license by the VARA.
As the crypto ecosystem grows larger by the day, Dubai is slowly turning into a modern-day El Dorado..
Passionate about stock market trading and cryptocurrencies, I write articles on the subject to share my experience and keep you up to date. I’m convinced that cryptocurrencies open up new perspectives and that everyone should experiment with them.