Nomura's crypto unit Laser Digital has obtained a full crypto license from Dubai's VARA, allowing it to serve both retail and institutional customers in Dubai. Laser Digital plans to launch its trading and asset management businesses in Dubai in the coming months, making it one of the first major financial institutions to offer a full suite of digital asset services in the Middle East. This is a sign that Dubai is becoming a major hub for the crypto industry, as it has been proactive in developing regulations and infrastructure to support its growth. Laser Digital CEO Jez Mohideen says that VARA's "thorough and consultative process provides institutional investors with the assurance they require to engage in this asset class," suggesting that VARA is taking a responsible and measured approach to regulating the crypto sector, which is likely to give institutional investors more confidence in investing in digital assets in Dubai.