Laser Digital, a digital asset subsidiary of Japanese banking giant Nomura, has made waves in the crypto industry by securing the first limited license to offer over-the-counter crypto derivatives under the Virtual Asset Regulatory Authority’s (VARA) Pilot Regime. This milestone announcement, made by the company on Wednesday, marks a significant step forward for both Laser Digital and the regulatory environment in the UAE.
With this groundbreaking approval, Laser Digital is now officially open for business in Dubai, where it will begin offering institutional-grade crypto options directly to clients. These structured derivative strategies, tailored for sophisticated investors in the digital asset space, include products for hedging, yield enhancement, and volatility management.
Under VARA’s Pilot Regime, designed to onboard qualified firms while maintaining strong oversight of virtual asset activity, Laser Digital’s entry reflects the growing regulatory maturity in Dubai’s digital asset sector. Founded by Nomura to bridge traditional finance with the crypto economy, Laser Digital offers a range of services including trading, asset management, and venture investment within a regulated institutional framework.
The approval under VARA signifies Dubai’s commitment to lead in the global race for regulated crypto innovation. Since its establishment in 2022, VARA has been steadily advancing its regulatory roadmap, introducing a staged licensing framework to bring oversight to virtual asset activity while fostering innovation. The Pilot Regime, under which Laser Digital now operates, allows select firms to engage with the market on a limited basis before progressing towards a full Virtual Asset Service Provider (VASP) license.
Dubai’s regulatory clarity has positioned it as a magnet for crypto firms seeking stability amid inconsistent policies in other jurisdictions. By securing the first limited license under VARA, Laser Digital has gained a foothold in one of the few jurisdictions offering structured access to institutional-grade crypto finance under government oversight.
In conclusion, Laser Digital’s achievement in securing the first limited license to offer over-the-counter crypto derivatives under VARA’s Pilot Regime is a significant milestone for the company and the regulatory environment in Dubai. This move further solidifies Dubai’s position as a leading hub for regulated crypto innovation, showcasing the city’s commitment to fostering a thriving digital asset sector.