Nomura’s digital asset subsidiary Laser Digital has been granted in-principle approval by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
Once conditions are met, Laser Digital will be granted the Financial Services Permission to provide broker-dealer services and asset/fund management services in relation to virtual assets and traditional assets.
Jez Mohideen, CEO of Laser Digital, added: “We are very grateful to have the opportunity to set up operations in ADGM; their comprehensive and clear regulatory framework is creating a global hub for digital assets that we are delighted to be joining.”
Arvind Ramamurthy, chief of market development at ADGM, said, “We are delighted that Laser Digital has been granted an ‘In Principle Approval’ for their virtual asset management services. Laser is developing investment services in virtual assets that are both dynamic and transparent, and their investment offerings align well with ADGM and the FSRA’s international best practices and progressive regulatory ecosystem. We welcome them to our robust and vibrant financial community.”
Laser Digital was launched last autumn by Nomura and was co-founded by Steve Ashley, who previously led Nomura’s wholesale division, and Jez Mohideen, who was Nomura’s chief digital officer and co-head of global markets EMEA.
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