LONDON, Aug 1 Reuters The crypto arm of Japanese investment bank and brokerage Nomura 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 Dubai39;s Virtual Asset Regulatory Authority, allowing it to offer cryptorelated brokerdealer, management and investment services.

Laser said it would launch its trading and asset management business in the coming months, allowing institutional investors access to overthecounter crypto trading and other investment products.

French bank Societe Generale 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 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 alltime high of 69,000.

Reporting by Tom Wilson, Editing by Louise Heavens

Source Reuters