Laser Digital has reportedly received Financial Services Permission from ADGM’s Financial Services Regulatory Authority to provide services in both traditional and digital assets.
Laser Digital (AD) Limited, is pleased to announce that the Financial Services Regulatory Authority of Abu Dhabi has “approved the issuance of a Financial Services Permission (FSP), completing Laser Digital’s licencing process with Abu Dhabi Global Market (ADGM).”
The license grants Laser Digital the permission “to provide broker-dealer services and asset/fund management services in and from ADGM, in relation to both virtual assets and traditional assets.”
Jez Mohideen leads Laser Digital’s UAE entity with Ramin Shayesteh as Head of Distribution.
Jez Mohideen, CEO of Laser Digital commented:
“Our team at Laser is delighted with this significant milestone, and we are eager to contribute responsibly to the virtual asset industry in the UAE. We have always been committed to upholding the highest standards of compliance and regulations at ADGM, and we look forward to contributing to ADGM’s ecosystem.”
Arvind Ramamurthy, Chief of Market Development at ADGM said:
“We’re delighted to welcome Laser Digital as we expand our financial community to include partners such as Laser, whose offerings align with ADGM and the FSRA’s international best practices and progressive regulatory ecosystem.”
As covered, the Financial Services Regulatory Authority (FSRA) of ADGM and the Bermuda Monetary Authority (BMA) have recently announced the signing of a joint Digital Assets Memorandum of Understanding (MoU).
The MoU creates a framework “enabling the collaboration between the BMA and the FSRA to support the establishment of digital assets entities across their jurisdictions and ensure their effective supervision.”
This framework encompasses regulatory and supervisory cooperation, “investigative assistance and capacity enhancement initiatives.”
The BMA’s Chief Executive Officer, Craig Swan, stated:
“The agreement with the FSRA marks a significant step in strengthening links between regulators, supporting innovation and enhancing capabilities and resources through international collaboration. This MoU leverages the stability and expertise of our markets to address the evolving needs of the digital asset business sector. We look forward to greater knowledge exchange and deeper regulatory cooperation to encourage a secure and sustainable growth environment.”
Emmanuel Givanakis, CEO of the FSRA of ADGM said:
“The signing of the MoU underlines our dedication to cooperation and the exchange of information between ADGM FSRA and BMA. Both jurisdictions share a mutual commitment to driving responsible innovation for the digital asset landscape. Through this agreement, we aim to foster the creation and effective oversight of digital asset businesses across both jurisdictions and pave the way for greater regulatory harmonization, enhanced integrity and efficiency as well as prudent industry growth.”