Dubai's Crypto Licencing Race Heats Up As Nomura's Laser Digital Gets Green Light
Portfolio Pulse from Murtuza Merchant
Nomura's digital asset subsidiary, Laser Digital, has secured an operating license from Dubai's Virtual Asset Regulatory Authority (VARA). The license allows Laser Digital to provide virtual asset broker-dealer services and virtual asset management and investment services. The company plans to start its trading and asset management operations in the coming months, offering over-the-counter trading services and a range of digital asset investment products.
August 01, 2023 | 3:12 pm
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NEUTRAL IMPACT
Binance, the world's leading crypto exchange, obtained a license to operate in Dubai in July. This news does not directly impact Binance but shows increased competition in the region.
While Binance already has a license to operate in Dubai, the entry of Nomura's Laser Digital could increase competition in the region. However, the direct impact on Binance is uncertain at this stage.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Nomura's digital asset subsidiary, Laser Digital, has secured a license to operate in Dubai. This could potentially increase Nomura's exposure to the growing digital asset market.
The license allows Nomura's subsidiary to provide a range of services related to digital assets. This could potentially increase Nomura's revenues and profitability in the future, as the digital asset market continues to grow.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100