Nomura’s Laser Digital Launches Regulated OTC Crypto Desk in Dubai

Nomura’s Laser Digital has inaugurated a regulated cryptocurrency OTC options desk in Dubai, under the Virtual Asset Regulatory Authority framework.

This initiative signifies a pivotal development for regulated digital asset services in the Middle East, expected to foster institutional engagement.

Laser Digital Secures OTC Options License in Dubai

Nomura’s subsidiary Laser Digital obtained a license to offer regulated crypto OTC options in Dubai, marking a crucial step in regulated institutional involvement in crypto derivatives. “Crypto has become very Dubai-centered and there is this kind of hype around people moving into Dubai and the VARA regulatory environment. It’s because Dubai does a good job,” said Johannes Woolard, Chief Product Officer, Laser Digital.

Laser Digital focuses on medium-term vanilla options for major tokens like Bitcoin and Ethereum, making it a landmark focal point in Middle Eastern cryptocurrency markets.

Institutional Focus Boosts Middle East Crypto Ecosystem

Institutional engagement is expected to increase due to Laser Digital’s entry into the Middle Eastern market. The focus on vanilla options aims to grow simple business ecosystems.

The move may drive financial diversification in Dubai’s crypto markets, strengthening the case for additional derivative products and services in this region.

Dubai Offers Direct Client-Facing Crypto Options

Previous approvals in Dubai have involved DeFi and derivatives but lacked direct client-facing regulated options desks, setting this move apart in historical context.

Potential outcomes include enhanced institutional flows and product diversification, informed by similar TradFi-crypto integrations like CME and Bakkt’s crypto options launches.