Laser Digital Launches Regulated OTC Crypto Options in Dubai Under VARA Framework

Laser Digital, the digital asset arm of Japanese investment bank Nomura, has launched the first regulated over-the-counter (OTC) crypto options trading service in Dubai under the Dubai Virtual Asset Regulatory Authority (VARA) pilot framework [1]. This move positions Dubai as a growing hub for institutional-grade digital asset trading and signals a broader trend of regulatory clarity in the crypto derivatives space [2].

The firm's services are aimed at institutional clients such as hedge funds and asset managers, offering hedging, yield generation, and volatility management tools [3]. Laser Digital is focusing initially on “vanilla” options tied to major crypto tokens, structured under standard ISDA agreements, as a way to build market traction and ecosystem support [4]. Johannes Woolard, Laser Digital’s chief product officer, emphasized the firm's strategy to avoid complex structures in the early phase while expanding into more advanced offerings such as yield strategies and spot trading in the future [5].

The launch is part of Dubai’s broader initiative to establish itself as a global center for digital asset derivatives. The city’s regulatory approach is described as rigorous yet practical, requiring firms to provide detailed justifications for their operations while offering flexibility once approval is granted [6]. With the introduction of a comprehensive regulatory framework in early 2023, Dubai has attracted other major players, including Deribit, which recently announced expansion plans following its acquisition by Coinbase [7].

Laser Digital operates from Switzerland with regional offices in the UAE and the UK. It was established in 2023 by Steve Ashley and Jez Mohideen, combining Nomura’s global investment banking expertise with deep knowledge of the crypto market [8]. The firm’s leadership in Dubai includes Jez Mohideen as regional head and Cameron Dickie as Head of Distribution.

The development aligns with the growing institutional interest in crypto derivatives, which is supported by clearer regulatory pathways in jurisdictions like the UAE and the UK. In contrast, most EU countries continue to rely on broader regulations like MiFID II and EMIR, and the U.S. lacks a dedicated framework for OTC crypto options [9].

Source:

[1] Laser Digital launches regulated crypto options desk in ... (https://cointelegraph.com/news/laser-digital-nomura-otc-crypto-options-dubai)

[2] Laser Digital Secures Approval From Dubai's VARA for ... (https://www.coindesk.com/policy/2025/08/06/nomura-backed-laser-digital-wins-regulatory-nod-for-crypto-derivatives-in-dubai)

[3] Laser Digital has received the first license in Dubai to offer ... (https://www.mitrade.com/au/insights/news/live-news/article-3-1017634-20250807)

[4] Nomura's Laser Digital Launches Regulated Crypto ... (https://financefeeds.com/nomuras-laser-digital-launches-regulated-crypto-options-trading-in-dubai/)

[5] Laser Digital Secures Dubai's First OTC Crypto Options ... (https://www.ainvest.com/news/laser-digital-secures-dubai-otc-crypto-options-license-2508/)

[6] tobtc - X (https://x.com/_TOBTC/status/1953131****90298722)

[7] Nomura-backed laser digital wins regulatory nod for crypto ... (https://www.fxstreet.com/cryptocurrencies/news/nomura-backed-laser-digital-wins-regulatory-nod-for-crypto-derivatives-in-dubai-202508061130)

[8] Nomura-Backed Laser Digital Wins Regulatory Nod (https://swingtradebot.com/news-articles/22022767-nomurabacked-laser-digital-wins-regulatory-nod)

[9] Nomura's Laser Digital First to Get Dubai OTC Crypto ... (https://cryptorank.io/news/feed/b3476-nomuras-laser-digital-first-to-get-dubai-otc-crypto-options-license)