Nomura's cryptocurrency arm Laser Digital has pumped single-digit millions into ZIGChain, a Dubai-based Layer 1 blockchain targeting the private credit market across the Gulf States. The move signals the Japanese financial giant is doubling down on crypto infrastructure despite tightening risk limits earlier this year when crypto losses hit quarterly profits.
ZIGChain co-founder Abdul Rafay Gadit described the partnership as one of the largest onchain institutional products the region has ever attempted. Both firms operate from Dubai, their offices barely a kilometer apart, and that proximity shaped the deal. After an initial meeting with Laser Digital CEO Jez Mohideen, a shared vision crystallized around financial accessibility and tokenization's role in delivering it.
The collaboration goes beyond capital. Laser Digital is building a full risk framework and governance structure across a pipeline of institutional vault products. This matters because the private credit space in the Middle East faces a structural bottleneck. Institutional capital sits trapped on one side, borrowers seeking structured financing on the other, and no efficient rails connecting them. ZIGChain aims to become that bridge, with products designed to comply with Sharia law.
Nomura's move is noteworthy timing. In February, the firm tightened risk controls at Laser Digital after crypto exposure bruised quarterly earnings. Markets read it as retreat. Nomura pushed back, framing the shift as prudent risk management, not abandonment. This ZIGChain partnership backs up that claim. It's not reckless expansion. It's a calculated bet on infrastructure in a region hungry for financial innovation and less hostile to crypto than Western regulators.
This article is informational only and does not constitute financial or investment advice. Cryptocurrency investments carry substantial risk.
