Nomura’s Digital Asset Subsidary Receives In-Principal Approval From Abu Dhabi Global Market27. September 2023
Laser Digital, Nomura’s digital asset subsidiary, announces that it has been granted In-Principal Approval (IPA) by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), with formal regulatory licensing subject to the fulfilment of a number of conditions.
When all IPA conditions are fulfilled, 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.
Laser Digital chose Abu Dhabi as its destination of choice due to ADGM’s progressive and transparent approach to regulation, based on strong cross-industry dialogue and collaboration with different sector players including the digital asset sector.
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. Headquartered in Switzerland, with offices in the UAE and the UK, Laser Digital combines the rigor, best practices, and capabilities of global investment banking with the experience of a crypto-native team. Jez Mohideen leads Laser Digital’s UAE entity with Cameron Dickie as Head of Distribution.
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.”
Featured image credit: Jez Mohideen, CEO of Laser Digital