Dubai issues first license for crypto options trading

Laser Digital, a subsidiary of Japan’s Nomura, has become the first Dubai-based company to receive regulatory approval to sell over-the-counter cryptocurrency options.

The license was issued by the Virtual Asset Regulatory Authority as part of a pilot project, making Laser Digital the only company in the emirate allowed to offer crypto derivatives directly to institutional clients.

The company confirmed that its Dubai operations will comply with the International Swaps and Derivatives Association (ISDA) standards. This means that each cryptocurrency options contract will comply with the same legal framework used in traditional finance. According to Laser Digital, this system ensures that the rights and obligations in each transaction are clearly defined.

It is known that the company will initially offer “basic products”, primarily options for Bitcoin and only then move on to complex structured products. This strategy will help Laser Digital “win the trust of institutional investors” and comply with Dubai’s regulatory requirements.

We’re starting with regular options, but we’ll be expanding gradually,» said the company’s chief product officer, Johannes Woolard.

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