Dubai’s virtual asset regulatory authority, VARA has granted Laser Digital Middle East FZE, the crypto arm of Japanese Nomura Holdings, a full crypto license that will allow it to offer virtual asset broker dealer and investment management services in the UAE.

Laser Digital announced that  Laser plans to launch over-the-counter trading services and digital-asset investment products for institutional investors in coming months.

According to VARA website, Laser Digital has been awarded This is the full VARA licence, issued to VASPs which satisfies all of the requirements as specified under the Virtual Assets and Related Activities Regulations 2023. It allows a VASP to offer approved Virtual Asset services to retail customers as well as institutional customers and Qualified Investors.

Laser Digital, which is headquartered in Switzerland with officers in Dubai and London, said in a statement it had received the licence from Dubai’s Virtual Asset Regulatory Authority, allowing it to offer crypto-related broker-dealer, management and investment services.

“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 Jez Mohideen,  Co-Head of Global Markets EMEA. Laser Digital

Founded last year by Nomura, Laser Digital was the brainchild of Steven Ashley, the former head of Nomura’s wholesale division, and Jez Mohideen, Nomura’s former Chief Digital Officer.