Nomura’s Laser Digital Secures License for Crypto Derivatives in Dubai
Laser Digital, a subsidiary of Nomura, has obtained a limited license from Dubai's Virtual Asset Regulatory Authority (VARA) to offer regulated over-the-counter (OTC) crypto derivatives. This makes Laser Digital the first regulated entity under VARA to provide direct client-facing crypto OTC option services.
- Dubai is becoming a preferred location for crypto firms due to its favorable regulatory environment.
- Other companies, like Deribit, are also planning operations in Dubai.
- Laser Digital plans to focus on major crypto tokens and will initially offer medium-dated options under ISDA agreements.
- The strategy involves simple structures to establish a foundational business, with potential for future yield enhancement and integration of additional services.