Laser Digital Becomes First Firm Licensed for Crypto Options in Dubai

On August 6, 2025, Laser Digital, the digital asset arm of Nomura Holdings (NYSE: NMR), received a landmark OTC crypto derivatives license from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval makes Laser Digital the first firm in Dubai authorized to offer regulated crypto options directly to institutional clients.

The license was granted under VARA’s pilot framework and allows the firm to offer OTC options on major cryptocurrencies like Bitcoin. These transactions will be conducted through standardized ISDA (International Swaps and Derivatives Association) agreements, providing legal certainty and streamlined execution for institutional clients.

“We are honored to be the first regulated entity under VARA to offer crypto options directly to clients. VARA’s visionary leadership is enabling Dubai to set the global standard for responsible innovation in digital asset finance,” said Jez Mohideen, Co-Founder and CEO of Laser Digital.

Following the announcement, shares of Nomura Holdings showed a steady upward trend, reflecting a positive reception from investors. While no major volatility has been observed so far, a notable large-volume sell order occurred during intraday trading on August 6.

VARA was established in March 2022 as the world's first independent regulator for virtual assets, aimed at establishing Dubai as a global digital finance hub.

Catering to Institutional Demand

Laser Digital’s crypto options offering is tailored for hedge funds, asset managers, and high-volume institutions seeking tools for risk management, yield enhancement, and volatility exposure. By utilizing ISDA-based contracts, the firm can offer customizable pricing and low slippage for large transactions.

The company’s initial rollout will focus on medium- to long-term “plain vanilla” options. It plans to expand into crypto lending, spot trading, and yield-bearing products, subject to further VARA approvals.

This development reflects a growing trend: institutions are increasingly seeking sophisticated, regulated crypto financial instruments. Laser Digital’s move further strengthens Dubai’s position as a jurisdiction of choice for compliant digital asset innovation.

Dubai’s Crypto Vision Gains Momentum

Since VARA’s establishment, Dubai has aimed to attract global Web3 companies through regulatory clarity and innovation-friendly frameworks. Laser Digital’s license adds to a growing list of firms that have chosen Dubai as a base for institutional crypto operations.

The broader crypto derivatives market is also gaining traction. Notably, Deribit — acquired by Coinbase (NASDAQ: COIN) — has expressed intentions to expand operations into Dubai, underscoring the emirate’s strategic importance in the evolving digital asset landscape.