Dubai is promoting the crypto industry by granting a full license to a Nomura Securities subsidiary, reshaping the city into a global crypto hub.
Dubai has granted a coveted full cryptocurrency license to a subsidiary of Japanese financial giant Nomura Holdings, BNN Bloomberg reports.
The license comes just days after Binance received its MVP operating license from Dubai, representing further progress in Dubai’s ongoing commitment to positioning itself as a leading hub in the cryptocurrency space.
Nomura subsidiary Laser Digital Middle East FZE will now be able to offer a full suite of virtual asset broker-dealer and investment management services in Dubai, BNN Bloomberg reports.
Looking ahead, Laser Digital plans to launch over-the-counter trading services and digital asset investment products targeting institutional investors in the coming months.
Laser Digital CEO Jez Mohideen expressed optimism about the potential, BNN Bloomberg reported.
“We will innovate in the asset class and come up with products that are suitable for institutions in the crypto asset space,” Mohideen said.
Laser Digital has significant operations in Switzerland, Dubai and London, and the company considers Dubai an attractive location due to its dedicated virtual asset regulator and thriving cryptocurrency market.
The license for the Nomura subsidiary highlights the growing interest in cryptocurrencies and blockchain technology in the Middle East. Dubai’s business-friendly policies and regulatory oversight set a precedent for the future trajectory of the crypto market amid global regulatory issues.
