Nomura-Backed Laser Digital Wins Regulatory Nod for Crypto Derivatives in Dubai
0Laser Digital secured the first regulated over-the-counter crypto options limited license under VARA’s pilot framework.
Laser Digital, the cryptocurrency trading and servicing subsidiary of Japanese bank Nomura, secured a limited license to offer regulated, over-the-counter (OTC) crypto derivatives from Dubai under the Virtual Asset Regulatory Authority’s (VARA) pilot framework.
Under this regime, Laser Digital says it is the first regulated entity under VARA to offer direct client-facing crypto OTC option services.
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As crypto derivatives ramp up around the globe, places like Dubai with its crypto-friendly regulatory framework, have become hot destinations for firms. For example, Deribit, the crypto derivatives platform recently acquired by Coinbase, also has Dubai plans in the works.
“Crypto has become very Dubai-centered and there is this kind of hype around people moving into Dubai and the VARA regulatory environment,” said Johannes Woolard, chief product officer at Laser Digital 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.”
Laser Digital is looking at major crypto tokens, initially offering medium-dated options, executed under ISDA agreements, Woolard said. The International Swaps and Derivatives Association is a trade organization of participants in the market for over-the-counter derivatives.
“It’s going to be vanilla structures, nothing complicated, just to grow that simple business and ecosystem. On top of that, you can build yield enhancement things, bring in the work that we do around borrow lending, and bring in the spot franchise. But initially, just keep it simple.”
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
https://www.coindesk.com/policy/2025/08/06/nomura-backed-laser-digital-wins-regulatory-nod-for-crypto-derivatives-in-dubai
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