Laser Digital, a subsidiary of Japan’s Nomura, has become the first company licensed under Dubai’s Virtual Asset Regulatory Authority (VARA) pilot framework to offer regulated over-the-counter (OTC) crypto options. This limited license allows Laser Digital to cater to institutional clients, facilitating direct, large-volume trades that minimize slippage and offer flexible pricing. The initiative aims to meet the growing demand for regulated crypto derivatives in Dubai and provide tools for hedging and volatility management while regulators assess market conditions. The global landscape for OTC crypto options is evolving, with regulatory frameworks emerging in places like the UK and the EU. The UAE's derivatives market was valued at around $167 million in 2024, with a projected growth rate of 3.7% through 2031, as it expands its offerings to include digital assets and institutional financial products. This strategic move positions the UAE as a competitive player in the global derivatives market, which is currently dominated by the US.

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