Dubai, UAE – August 7, 2025 — Laser Digital, the digital asset subsidiary of Japan’s Nomura Bank, has become the first firm to receive a limited license to offer regulated over-the-counter (OTC) crypto derivatives under the Dubai Virtual Asset Regulatory Authority (VARA)’s pilot framework.
With this milestone, Laser Digital is now the first regulated entity under VARA to directly provide client-facing crypto OTC option services. The license marks a significant step in Dubai’s ambition to position itself as a global hub for regulated digital assets.
Johannes Woolard, Chief Product Officer at Laser Digital, highlighted Dubai’s proactive regulatory approach. “Crypto has become very Dubai-centered and there is this kind of hype around people moving into Dubai and the VARA regulatory environment,” Woolard said in an interview. “It’s because Dubai does a good job. They make you justify, in a lot of detail, what you’re going to do, but then once you’ve justified it, they’re willing to give you quite a long leash.”
Under the new license, Laser Digital will initially offer medium-dated vanilla options on major crypto tokens. These contracts will be executed under International Swaps and Derivatives Association (ISDA) agreements, aligning with traditional financial market standards.
“Our focus right now is on simple, vanilla structures,” Woolard added. “The goal is to grow a straightforward, sustainable business and ecosystem. Later, we can layer in more advanced offerings like yield enhancement, borrow-lending solutions, and our spot franchise.”
Dubai’s crypto-friendly stance continues to attract major players in the industry. Deribit, a leading crypto derivatives platform recently acquired by Coinbase, is also planning to expand operations into the emirate.
Laser Digital’s entry into VARA’s regulated framework signals growing maturity and institutional interest in the crypto derivatives space, reinforcing Dubai’s status as a premier destination for digital asset innovation.
