Digital asset business Laser Digital has been granted a Financial Services Permission (FSP) by the Regulatory Authority of Abu Dhabi. This completes its licencing process with Abu Dhabi Global Market (ADGM).
With this approval, Laser Digital can provide broker-dealer, asset and fund management services for both virtual and traditional assets in and from ADGM. The firm’s UAE business is led by Jez Mohideen, with Ramin Shayesteh serving as head of distribution.
Backed by Nomura, Laser Digital provides scalable opportunities in trading, solutions, asset management and ventures.
Commenting on the licence, Mohideen said: “We are eager to contribute responsibly to the virtual asset industry in the UAE. We have always been committed to upholding the highest standards of compliance and regulations at ADGM, and we look forward to contributing to ADGM’s ecosystem.”
Arvind Ramamurthy, chief of market development at ADGM, added: We’re delighted to welcome Laser Digital as we expand our financial community to include partners such as Laser, whose offerings align with ADGM and the FSRA’s international best practices and progressive regulatory ecosystem.”
©Markets Media Europe 2024
