Laser Digital Launches Crypto Derivatives Service Under Dubai’s VARA Pilot Framework

Highlights:

• Laser Digital has launched crypto derivatives under the VARA pilot to serve institutional clients with licensed OTC options.
• Dubai has expanded its digital asset framework as more global firms explore crypto derivatives in the UAE.
• Laser Digital plans to offer simple token options before moving into yield and lending services in the market.

Laser Digital, the digital asset unit of Japan’s Nomura, has received the first license to offer over-the-counter (OTC) crypto options in Dubai. The limited license comes under the pilot framework of the Virtual Asset Regulatory Authority (VARA). It allows the firm to directly provide OTC derivative services to institutional clients in the UAE. The firm announced the development on Wednesday, stating that it will operate under strict oversight.

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🚨 Dubai Makes History!

Laser Digital (Nomura) just received Dubai’s first crypto options trading license under VARA’s pilot program. 📈

Institutional crypto trading in the UAE is now officially open and regulated! 🇦🇪 pic.twitter.com/NYbhBt3zL0

— DIN⏳ (@din_lol_) August 7, 2025

The licensed product will initially include medium-dated options linked to major digital tokens. The structures will follow standard ISDA agreements. Laser Digital aims to offer risk management, volatility exposure, and hedging tools through this service. The firm noted that the OTC platform will serve high-volume clients such as hedge funds and trading firms.

Johannes Woolard, Chief Product Officer at Laser Digital, said the initial strategy will focus on simplicity. He added that building a simple product base would help attract steady institutional interest. The company also hinted at expanding into yield products and lending after establishing market traction.

Dubai Advances Crypto Licensing as Laser Digital Launches Crypto Derivatives Desk

The entry of Laser Digital is yet another expansion of the digital asset market in Dubai. VARA contains individual rulebooks on exchanges, custodians, broker-dealers, and token issuers. The broader oversight structure includes the pilot framework under which Laser Digital was granted approval. The move by Laser Digital comes days after Ripple partnered with Ctrl Alt to tokenize the titles of real estate and issue them on the XRP Ledger.

GBBC member @Ripple has partnered with UAE-based #Ctrl Alt to assist the Dubai Land Department’s real estate tokenization project. Ctrl Alt will utilize #Ripple’s custody infrastructure to preserve tokenized title deeds on the XRP Ledger, marking #Ripple’s first custody partner… pic.twitter.com/Xfw0Z5o7hr

— Global Blockchain Business Council (GBBC) (@GBBCouncil) August 5, 2025

Although the derivatives market in the UAE is still small, it is becoming more diverse. The market stood at about $167 million last year and may grow by 3.7% annually through 2031. Financial platforms like DGCX and OTC provider ADSS have existed in Dubai to support commodities and FX markets. Now, the scope is expanding to cover digital assets.

Global firms are also moving to establish a presence in Dubai. Deribit, one of the largest crypto options exchanges, has plans to enter the city after a recent acquisition by Coinbase. Across the United Kingdom and the European Union, licensing efforts for crypto derivatives are ongoing but fragmented. In the United States, there is still no dedicated framework for OTC crypto options. Woolard described Dubai’s approach as detailed but workable. He also added that VARA allows enough flexibility once the justification process is complete.

Nomura Expands Presence Through Laser Digital’s New Crypto Offering

Laser Digital was launched by Japanese investment bank Nomura. The company is headquartered in Switzerland and maintains offices in the UAE and the UK. The team includes both financial experts and crypto industry professionals. Meanwhile, Laser Digital obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi in June last year.

Nomura has a longer track record in digital assets through earlier ventures. It partnered with Ledger and CoinShares to create a custody platform called Komainu. The service received approval from the Jersey Financial Services Commission. The launch of Laser Digital now adds a trading component to Nomura’s broader digital asset strategy.

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