Japanese financial institution Nomura's digital asset subsidiary, Laser Digital, has joined a new blockchain project aimed at financing small and medium-sized enterprises (SMEs) in Saudi Arabia. According to a report published by The Block on November 11, 2026, Laser Digital and ZIG Finance have launched a tokenized investment product called zEMS Vault on BNB Chain. The project aims to raise $100 million in capital. The investment vehicle will enable eligible institutional investors to gain exposure to a portfolio of loans extended to businesses in Saudi Arabia.
How Will the New Fund on BNB Chain Work?
zEMS Vault uses a structure that combines traditional private credit investments with blockchain infrastructure. The investment product is backed by loans provided to small and medium-sized enterprises in Saudi Arabia. These loans are originated through financing infrastructure operated by Beehive. Eligible institutional investors can participate in a diversified portfolio of these loans through the tokenized investment vehicle.
The system allows investors to enter positions using stablecoins and execute withdrawals or redemptions in accordance with the investment terms. KAIO is responsible for tokenization and managing the investment vehicle throughout its lifecycle. KAIO ensures that the investment product is represented on BNB Chain and that related transactions are carried out using blockchain infrastructure.
Know Your Customer (KYC) checks are applied to investors entering and exiting the system. Zamanat provides advisory services concerning the investment structure and its compliance with Islamic finance principles.
What Role Does Laser Digital Play in the Project?
Laser Digital is not acting as a direct lender within zEMS Vault. Instead, the company serves as a risk management and tokenization adviser. It will contribute to developing the investment vehicle's risk management framework and structuring the product in accordance with institutional standards.
Abdul Rafay Gadit, co-founder of ZIG Finance, explained that the project's primary objective is not to eliminate credit risk but to make that risk more transparent and manageable.
This distinction is important. While tokenization enables an investment vehicle to be represented on a blockchain, it does not eliminate the possibility that borrowers may default on their loans.
The project's $100 million target also does not represent capital that has already been raised. The announced figure refers to the intended fundraising size of the investment vehicle.
Partnership Could Expand into Other Emerging Markets
zEMS Vault has been introduced as the first product launched under the strategic partnership between Laser Digital and ZIG Finance. Both parties plan to apply similar investment models in other emerging markets.
The collaboration between Laser Digital and ZIGChain is not new. Under a partnership announced in August 2026, Laser Digital made a strategic investment in the ZIG ecosystem and committed to supporting the development of private credit products.
The partnership announcement dated August 5, 2026 outlined plans to bring private credit financing and stablecoin-backed investment products onto blockchain infrastructure.
The November 11 development is significant because it marks the launch of the first tangible investment product under the previously announced partnership.
Kriptofoni Assessment
The partnership between Laser Digital and ZIG Finance demonstrates the growing importance of private credit markets in the tokenization of real-world assets (RWAs). Transforming loans issued to businesses in Saudi Arabia into blockchain-based investment products could create new connections between traditional financing sources and digital asset infrastructure.
However, the $100 million fundraising target does not represent an investment amount that has already been secured. Credit risk, liquidity conditions, and investors' legal rights also remain important considerations.
The project's success will depend on how much of the targeted capital is ultimately raised and the performance of the underlying loan portfolio.
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Disclaimer: This content is for informational purposes only and is not investment advice. Cryptocurrencies are high-risk; make investment decisions based on your own research.
Content Editor and Writer
Dr. Mesut İnan is a researcher, academic and crypto journalist who has been producing content about cryptocurrencies since 2018. He brings a different perspective to the industry by combining his expertise in sociology with the cryptocurrency ecosystem. Before joining Kriptofoni as co-founder, content editor and writer, İnan worked for several cryptocurrency media platforms: he was an editor and writer at Kriptokoin from 2018 to 2023 and at COINTURK from 2023 to 2024. İnan made a valuable contribution to the ecosystem with his book on Bitcoin, "Bitcoin Sen Bizim Her Şeyimizsin" (Bitcoin, You Are Our Everything). Alongside his academic background, his regular analyses, news and commentary have made him one of the well-known names in cryptocurrency journalism in Turkey. İnan continues his work as a writer and educator and remains a prominent expert voice in the cryptocurrency field.
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