Laser Digital, a digital asset subsidiary of Japanese banking giant Nomura, has secured the first limited license to offer over-the-counter crypto derivatives under the Virtual Asset Regulatory Authority’s (VARA) Pilot Regime, the company announced Wednesday.

Laser Digital is the first firm authorized to provide institutional-grade crypto options directly to clients under the VARA framework, marking a significant milestone for the firm and the UAE's emerging regulatory environment.

With this approval, Laser Digital is officially open for business in Dubai and will begin engaging with institutional counterparties to deliver structured derivative strategies.

The offering includes products for hedging, yield enhancement, and volatility management, all of which are tailored to meet the needs of sophisticated investors in the digital asset space.

The license falls under VARA’s Pilot Regime, designed to vet and onboard qualified firms while maintaining strong oversight of virtual asset activity. Laser Digital’s entry under this program reflects growing regulatory maturity in Dubai’s digital asset sector.

Founded by Nomura to bridge traditional finance and the crypto economy, Laser Digital offers trading, asset management, and venture investment services within a regulated institutional framework.

The company’s approval under VARA signals a deepening of Dubai’s ambitions to lead in the global race for regulated crypto innovation.

VARA, established in 2022, has steadily advanced its regulatory roadmap, most recently introducing a staged licensing framework designed to bring oversight to virtual asset activity while supporting innovation.

The Pilot Regime, which Laser Digital now operates under, allows select firms to engage with the market on a limited basis before progressing toward a full Virtual Asset Service Provider (VASP) license.

Dubai’s regulatory clarity has made it a magnet for crypto firms seeking stability amid a patchwork of enforcement actions and inconsistent policies in other jurisdictions. By securing this license, Laser Digital gains a foothold in one of the few jurisdictions offering structured access to institutional-grade crypto finance under government oversight.