Laser Digital, a subsidiary of Japan's Nomura, secured Dubai's first licence to offer over-the-counter (OTC) crypto options under the Virtual Asset Regulatory Authority's (VARA) pilot programme. The company is the sole firm authorised to offer regulated OTC crypto derivatives to institutional clients in the city.

Operations will begin with Bitcoin vanilla options, structured according to International Swaps and Derivatives Association (ISDA) contracts. The approach relies on traditional finance legal frameworks to define rights and obligations for each trade.

Laser Digital aims to build trust by starting with simple, medium-term options rather than complex derivatives.

Plans for future services include lending, spot trading, and yield-generating products, but any expansion depends on further regulatory approvals. The company plans to expand its offerings as market demand and regulatory approval permit, though no timeline has been given.