{"id":60262,"date":"2023-09-27T08:21:37","date_gmt":"2023-09-27T12:21:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60262"},"modified":"2023-09-27T08:21:40","modified_gmt":"2023-09-27T12:21:40","slug":"laser-digital-gets-green-light-from-abu-dhabi-global-market","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/laser-digital-gets-green-light-from-abu-dhabi-global-market\/","title":{"rendered":"Laser Digital Gets Green Light from Abu Dhabi Global Market"},"content":{"rendered":"\n

Laser Digital, the digital assets arm of Japan\u2019s Nomura Bank,<\/a> has received in-principal approval from the Abu Dhabi Global Market (ADGM) to offer broker-dealer and asset management services for both digital and traditional assets. This development reflects the growing recognition and integration of digital asset firms in the UAE.<\/p>\n\n\n\n

\"Laser<\/figure>\n\n\n\n

Laser Digital aims to redefine the frontier of digital finance by delivering scalable, robust, and transparent opportunities across trading, asset management, and ventures. <\/strong><\/p>\n\n\n\n

The firm combines the rigor, best practices, and capabilities of global investment banking with the experience of a crypto-native team.<\/p>\n\n\n\n

The Abu Dhabi Global Market (ADGM)<\/a> is an international financial center and free zone located in the capital of the UAE. <\/p>\n\n\n\n

The body offers a progressive and transparent regulatory framework for various financial activities, including digital assets. <\/p>\n\n\n\n

The ADGM\u2019s Financial Services Regulatory Authority (FSRA) authorizes and supervises digital asset firms operating within the ADGM.<\/p>\n\n\n\n

In-Principal Approval: A Step Closer to Full Financial Services Permission<\/h3>\n\n\n\n

The in-principal approval\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> means that Laser Digital has met most of the requirements to obtain the Financial Services Permission (FSP) from the FSRA. <\/p>\n\n\n\n

However, there are still some conditions that Laser Digital needs to fulfill before it can receive the full FSP. <\/p>\n\n\n\n

The details of these conditions are not disclosed in the ADGM\u2019s communication on September 26th.<\/p>\n\n\n\n

\n

#ADGM<\/use><\/svg><\/span><\/a> is proud to announce that @LaserDigital_<\/use><\/svg><\/span><\/a> has received an In-Principle Approval (IPA) from the ADGM Financial Services Regulatory Authority (FSRA) for its virtual asset management services, further establishing it as a leading global hub for digital assets.\u2026 pic.twitter.com\/CmvkP4wumO<\/use><\/svg><\/span><\/a><\/p>— ADGM (@ADGlobalMarket) September 26, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Once Laser Digital obtains the full FSP, it will be able to provide broker-dealer services and asset\/fund management services in relation to virtual assets and traditional assets. <\/p>\n\n\n\n

This will enable Laser Digital to offer its clients a range of innovative and compliant solutions for their digital asset needs.<\/p>\n\n\n\n

Laser Digital\u2019s Expansion and Achievements in the UAE<\/h3>\n\n\n\n

Laser Digital\u2019s in-principal approval from the ADGM is not an isolated event. In fact, it follows a series of approvals and permissions granted to various digital asset firms over the past year. <\/p>\n\n\n\n

For instance, Binance and Kraken, two of the world\u2019s leading cryptocurrency exchanges, received FSPs from the FSRA in 2022.<\/p>\n\n\n\n

Laser Digital also secured an operating license from Dubai\u2019s Virtual Asset Regulatory Authority (VARA)<\/a> in August 2021. VARA is a new regulatory body that oversees digital asset activities in Dubai. <\/p>\n\n\n\n

The firm has joined other crypto firms that have obtained VARA licenses, such as Komainu, a digital asset custody platform backed by CoinShares and Ledger.<\/p>\n\n\n\n

Laser Digital\u2019s rapid expansion and achievements in such a short span are truly commendable. The firm has demonstrated its commitment to providing high-quality and compliant services for its clients and partners. <\/p>\n\n\n\n

By choosing Abu Dhabi as its destination of choice, Laser Digital has also shown its appreciation for ADGM\u2019s progressive and transparent approach to regulation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Laser Digital, the digital assets arm of Japan\u2019s Nomura Bank, has received in-principal approval from the Abu Dhabi Global Market (ADGM) to offer broker-dealer and asset management services for both digital and traditional assets. This development reflects the growing recognition and integration of digital asset firms in the UAE. Laser Digital aims to redefine the […]<\/p>\n","protected":false},"author":44,"featured_media":60276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[8771,4066],"class_list":["post-60262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-adgm","tag-nomura"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/Nomura-Digital.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60262"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60276"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}