Laser Digital Becomes First to Gain VARA Approval for OTC Crypto Derivatives in Dubai

Dubai is quickly solidifying its position as a global hotspot for regulated digital asset innovation — and Laser Digital is leading the charge.
On August 7, 2025, Laser Digital, the digital asset arm of Japan’s financial giant Nomura Bank, made headlines by becoming the first company to secure a limited license from Dubai’s Virtual Asset Regulatory Authority (VARA). This approval allows the firm to offer regulated over-the-counter (OTC) crypto derivatives, marking a key milestone for both the company and the region’s growing digital finance ecosystem.
A First-of-Its-Kind License in the Region
Under VARA’s pilot regulatory framework, Laser Digital is now the first regulated entity permitted to provide client-facing OTC crypto options services in Dubai. The license allows the firm to begin with medium-dated, vanilla options on major cryptocurrencies, structured under International Swaps and Derivatives Association (ISDA) agreements — mirroring the frameworks used in traditional finance.
This is a bold move toward bridging the gap between institutional finance and the crypto space, all under a tightly regulated and transparent environment.
Building the Foundation for a Sustainable Crypto Business
Johannes Woolard, Chief Product Officer at Laser Digital, emphasized Dubai’s thoughtful approach to crypto regulation:
“Crypto has become very Dubai-centered… 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.”
According to Woolard, Laser Digital’s initial focus will be on simple, easy-to-understand structures to build a sustainable and compliant trading environment. However, future plans include expanding into more complex products like yield-enhancement strategies, borrow-lending solutions, and spot trading services.
Dubai’s Growing Status as a Crypto Hub
Dubai’s supportive regulatory landscape continues to attract major crypto institutions from around the globe. Just recently, Deribit — one of the largest crypto derivatives exchanges and now owned by Coinbase — also announced plans to expand into the emirate.
With Laser Digital’s entry into VARA’s framework, the message is clear: Dubai is not only welcoming digital innovation — it’s building the rules to make it thrive responsibly.
This development marks a significant chapter in the evolution of institutional-grade crypto trading, and it sets the stage for further innovation in the region’s financial markets.

Want to stay updated on Dubai’s digital asset evolution?
Keep an eye on VARA’s regulatory announcements and the latest product rollouts from Laser Digital as the landscape continues to shift.