In a blow to the status quo which surrounds institutional crypto adoption, Nomura’s digital asset division, Laser Digital, has obtained the go ahead from Dubai’s Virtual Asset Regulatory Authority (VARA) for their OTC crypto products. This license is Dubai’s first of its kind. Thus, it secures the city’s position as a growing global crypto hub. Nomura’s Laser Digital exemplifies innovative progress in this sector.
In 2025 on August 7th Laser Digital is issued a license which puts them in VARA’s pilot program. This, in turn, gives them the go ahead to trade directly with institutions via OTC crypto derivatives. We’ll see all trades conducted under ISDA agreements. This brings much needed legal clarity and reduces counterparty risk. The crypto world has had issues with these in the past. Hence, Nomura’s Laser Digital involvement.
Back To Basics: Nomura Enters Bitcoin Options Market
Rather than jumping into the market with large scale complex products, Laser Digital is going back to the fundamentals. We will see them roll out basic medium term Bitcoin options. This, in turn, will help build trust before moving to more complex products. Introducing Nomura’s products through Laser Digital marks foundational growth.
According to Chief Product Officer Johannes Woolard the approach is to do so intentionally:.
“It’s going to be vanilla structures—nothing complicated. We’re here to build a sustainable ecosystem.”
Future plans include getting into yield oriented strategies, spot trading, and crypto lending. These will be subject to VARA’s regulatory review and approval.
Why Dubai? Regulatory Clarity And Global Reach.
Laser Digital is part of Dubai’s trend to become a prime crypto friendly zone. Since 2022, VARA has on board 127 entities. It reports over AED 18.4 billion in trading volume in Q2 2025, showcasing ventures like Nomura’s Laser Digital. This is a 340% YoY growth. Also in the VARA fold are big players like Binance, Crypto.com, and OKX. This, in itself, is proof of Dubai’s position.
Dubai has a complex system of regulators which includes VARA, DFSA, SCA, and FSRA. They provide specialized oversight for each of the different financial zones. Also, with the UAE’s VAT exemption for virtual asset trades, which takes effect in November 2024, the region is becoming very attractive for global institutions.
Global Trends: Why Institutional Crypto is Booming
Laser Digital is at a time of great institutional growth in crypto. In Q1 2025, the global crypto derivatives trade was $21 trillion. This is a large number in comparison to spot markets. OTC crypto trade had an increase of 106% in the past year. The increase is due to large volume trades, privacy issues, and regulatory progress. As part of this, Nomura’s Laser Digital represents a significant player.
Today, traditional players account for over 60% of crypto volume. In 2021, it was only at 35%. Nomura’s action is a symbol of a larger trend. This trend shows digital assets moving into the mainstream. They are driven by entities like Nomura’s Laser Digital.
