Laser Digital receives regulatory approval from ADGM to offer crypto services.
Approval highlights ADGM’s commitment to robust crypto regulations.
Laser Digital aims to serve the growing UAE virtual asset market.
Laser Digital (AD) Limited, a subsidiary of global financial services group Nomura, has secured a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. This license enables Laser Digital to offer broker-dealer and asset/fund management services for both virtual assets and traditional assets within the ADGM.
Jez Mohideen, the CEO of Laser Digital operations in the UAE, shared his team’s excitement about this achievement, saying:
“We at Laser are very happy about reaching this important milestone. We are eager to contribute responsibly to the virtual asset industry in the UAE. We have always followed the highest standards of compliance and regulations at ADGM, and we are excited to contribute to ADGM’s ecosystem.”
The approval of Laser Digital’s license demonstrates ADGM’s commitment to creating a strong and forward-thinking regulatory environment for financial services. Arvind Ramamurthy, Chief of Market Development at ADGM, welcomed Laser Digital and emphasized how the company aligns with ADGM and adheres to international rules for good practices and regulations.
As part of its operational scope, Laser Digital will focus on providing essential financial services such as broker-dealer services and asset/fund management services. This licensure positions Laser Digital to cater to the growing demand for reliable financial services in the UAE’s burgeoning virtual asset sector.
At present, Laser Digital operates within a landscape marked by developing regulatory frameworks and technological advancements. The company’s strategic approach emphasizes compliance with ADGM regulations and the application of best practices in financial services.
The approval also shows ADGM’s expansion of its financial community to include partners like Laser Digital, whose offerings contribute to the growth and stability of the financial ecosystem. The regulatory approval from ADGM represents a vote of confidence in Laser Digital’s capabilities to operate within the stringent regulatory framework of the UAE.
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