Nomura’s crypto-focused subsidiary has reached an important milestone on its path to embracing the cryptocurrency sector. Nomura, the Japanese investment bank and brokerage, has just received a critical operating license in Dubai. This newest development demonstrates mainstream financial institutions’ growing interest in the realm of digital assets.
Nomura’s corporation, known as “Laser Digital,” is headquartered in Switzerland, with other operations in Dubai and London. Dubai’s Virtual Asset Regulatory Authority gave the regulatory go-ahead. This enables Laser Digital to offer a variety of cryptocurrency-related services, such as broker-dealers, asset management, and investment alternatives.
Laser Digital’s ambitious objectives will be implemented in the next months. Institutional investors seeking exposure to cryptocurrencies through over-the-counter (OTC) trading and other investment products are targeted. This action represents a significant movement toward cryptocurrency acceptance within the traditional bank industry.
The admission of financial behemoths such as Nomura into the crypto market represents a huge step forward in the general acceptance of digital currencies. The previous month, French bank Societe Generale made history by being the country’s first corporation to get a license for crypto services. Furthermore, this only confirms the growing interest among prominent financial players.
NEWS! 🎉 Nomura's crypto arm secures #Dubai license, opening doors for institutional investors to explore crypto opportunities.
— Walletor (@walletorapp) August 1, 2023
Cryptocurrencies have experienced a tremendous comeback in 2023, with the top token Bitcoin surging by over 75% since the start of the year. All in all, this turnaround comes after a difficult 2022. Corporate scandals and falling token values were tarnished that year. It is important to remember, however, that Bitcoin’s current value is less than half of its all-time high.
The rising adoption of cryptocurrencies by major financial institutions reflects a bigger trend. This advancement paves the door for more accessible and secure investment opportunities.
With Laser Digital’s fresh permit in Dubai, the future of crypto adoption appears to be brighter than ever. Investors and financial institutions must keep up to date on the ever-changing environment of digital assets.