Nomura's crypto arm wins Dubai licence
01/08/2023 09:49
(Repeats to more subscribers)
LONDON, Aug 1 (Reuters) - The crypto arm of Japanese
investment bank and brokerage Nomura 8604.T said on Tuesday it
had won an operating licence in Dubai, the latest in a number of
mainstream financial institutions this year to enter the crypto
sector.
Laser Digital, which is headquartered in Switzerland with
officers in Dubai and London, said in a statement it had
received the licence from Dubai's Virtual Asset Regulatory
Authority, allowing it to offer crypto-related broker-dealer,
management and investment services.
Laser said it would launch its trading and asset management
business in the coming months, allowing institutional investors
access to over-the-counter crypto trading and other investment
products.
French bank Societe Generale SOGN.PA became last month the
first company in France to obtain a licence for crypto services,
underscoring resilient hunger among mainstream banks to embrace
crypto as markets have rallied through 2023.
Top token bitcoin BTC=BTSP has gained about 75% so far
this year, a recovery of sorts from a 2022 punctuated by
corporate scandals and plummeting token prices. However, the
asset remains less than half its all-time high of $69,000.
(Reporting by Tom Wilson, Editing by Louise Heavens)
((T.Wilson@thomsonreuters.com; Twitter: @tomwilson1983; Reuters
Messaging: t.wilson.thomsonreuters.com@reuters.net))