Nomura’s Laser Digital Backs ZIGChain for Gulf Private Credit Push

Aug 5, 2026 — Nomura Group’s digital assets arm, Laser Digital, has made a strategic investment in ZIGChain, a UAE-based Layer1 blockchain, to streamline private credit markets across the Gulf States. The investment is understood to be in the high single-digit millions, with the partnership targeting onchain institutional vault products.

Immediate Details & Direct Quotes

Laser Digital, the digital assets division of Japanese financial services firm Nomura Group, has invested in ZIGChain, a UAE-based Layer1 blockchain that also works with Standard Chartered and fund servicing firm Apex Group. While the exact investment amount wasn’t disclosed, sources indicate it reached the high single-digit millions.

The strategic partnership aims to streamline private credit markets across the Gulf States, including Sharia-compliant offerings. ZIGChain co-founder Abdul Rafay Gadit said a shared vision emerged with Laser Digital CEO Jez Mohideen about the need for accessibility to financial services and the role crypto and tokenization can play in that effort.

“Laser is creating with us one of the largest on-chain products the Gulf countries have ever seen,” Rafay Gadit said in an interview. “It helps that we are based in Dubai and Laser is also in Dubai, and our offices are literally one kilometer apart.”

The partnership delivers a comprehensive risk framework design and governance across a pipeline of institutional onchain vault products, according to a statement.

Market Context & Reaction

The investment comes at a challenging time for crypto markets. In February of this year, Nomura tightened risk limits at Laser Digital after crypto losses dragged down quarterly profit. While some read this as a retreat, Nomura indicated it would remain in crypto with a more conservative approach.

Rafay Gadit highlighted a two-sided problem in the Middle East’s private credit market. “Firstly, those who need money cannot raise it from the normal banks, and those who have money don’t know those opportunities exist,” he said. “And even if they know, it’s only approachable through very large funds that have extremely high fees and barriers to entry. We are democratizing that.”

Dr. Jez Mohideen, Co-founder and CEO of Laser Digital, said his firm has been monitoring the private credit category. “ZIG Markets brings regional depth and an origination track record, and as an investor and partner, our role is to apply the same higher standards of institutional risk frameworks we use across our broader offerings,” Mohideen said.

Background & Historical Context

ZIGChain’s existing partnerships include work with Standard Chartered and Apex Group, positioning it within established financial infrastructure. The Dubai connection between the two firms facilitated the initial meeting and subsequent collaboration.

The private credit opportunity in onchain finance is real, but Mohideen noted that execution risk has been consistently underestimated in the space. The partnership represents Laser Digital’s continued commitment to digital assets despite earlier risk adjustments following crypto-related losses.

“The shared vision remains to make the next generation of asset management products accessible to those moving serious institutional capital,” Mohideen added.

What This Means

The partnership signals growing institutional interest in onchain private credit products, particularly in the Gulf region. For ZIGChain, the investment provides both capital and institutional credibility as it develops its onchain vault product pipeline.

For market participants, the collaboration could open new avenues for private credit access in the Middle East, potentially reducing barriers to entry that currently favor large funds with high fees. The inclusion of Sharia-compliant offerings may expand the addressable market significantly.

The development also demonstrates that traditional financial institutions continue building in crypto despite market volatility, focusing on risk frameworks and institutional-grade governance as they expand their digital asset offerings.

Not financial advice. Always conduct your own research before investing.

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