Nomura's Laser Digital backs ZIGChain with $8M for onchain private credit
What's the deal? Laser DigitalDealroom has a profile for this one. Try Dealroom →, the digital assets arm of Japan's Nomura GroupDealroom has a profile for this one. Try Dealroom →, has made an $8 million strategic investment in ZIGChain, a UAE-based Layer1 blockchain. The partnership aims to streamline private credit markets across the Gulf States, including Sharia-compliant offerings.
What's the endgame? ZIGChain wants to open up regional private credit, which co-founder Abdul Rafay Gadit says faces a two-sided problem. "Those who need money cannot raise it from the normal banks, and those who have money don't know those opportunities exist," he said, adding that existing access runs through funds with high fees and steep barriers.
The deal delivers a risk framework and governance across a pipeline of institutional onchain vault products. ZIGChain also works with Standard CharteredDealroom has a profile for this one. Try Dealroom → and fund servicing firm Apex Group.
Why now? Both firms are based in Dubai, with offices a kilometre apart. "Laser is creating with us one of the largest on-chain products the Gulf countries have ever seen," Rafay Gadit said, crediting an initial meeting with Laser Digital chief executive officer Jez Mohideen for the shared vision.
What could go wrong? Crypto is in a down market, and the effects are being felt across the industry. In February, NomuraDealroom has a profile for this one. Try Dealroom → tightened risk limits at Laser Digital after crypto losses dragged down quarterly profit — read by the market as a retreat, though the firm said it would stay in crypto with a more conservative approach.
The signal: Institutional players are testing tokenization in private credit, but cautiously. "The opportunity in onchain finance is real," Mohideen said, warning that "execution risk has been consistently underestimated" — a reminder that even bullish backers are pricing in restraint.
Read more: CoinDesk
Image credit: Zignaly
