Laser Digital, a subsidiary of Japan’s largest securities firm Nomura, has been issued a Financial Services Permission (FSP), which completes the licensing process to provide broker-dealer services asset-fund management services with the Abu Dhabi Global Market (ADGM).

The digital asset firm, headquartered in Switzerland, said the services will cover both virtual assets and traditional assets, with Jez Mohideen leading Laser Digital’s UAE entity with Ramin Shayesteh appointed as Head of Distribution.

In August last year, the crypto arm of Japanese investment bank and brokerage Nomura announced it had received a licence from Dubai’s Virtual Asset Regulatory Authority, allowing it to offer crypto-related broker-dealer, management, and investment services.

A month later, Laser Digital was granted In-Principal Approval (IPA) by the Financial Services Regulatory Authority (FSRA), with formal regulatory licensing to follow.

(Writing by Bindu Rai, editing by Seban Scaria)