Dubai grants the first license for cryptocurrency derivatives


By Hannah Pérez

Laser Digital announced that the first license of the Dubai regulator was secured to offer OTC cryptocurrency derivatives regulated to investors in the region.

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  • Vara regulators granted a license to Laser Digital, a subsidiary of the Nomura Bank.
  • It is the first license for an offer of regulated cryptocurrency derivatives in Dubai.
  • It is part of Dubai’s effort to consolidate as a financial innovation center.

Dubai regulators have granted the first license for cryptocurrency options.

Digital laser, A Cryptocurrency Subsidiary of the Japanese Bank Nomurahas obtained a limited license from the Dubai Virtual Assets Regulatory Authority (Vara) to offer regulated extraburstable cryptocurrency derivatives (OTC), as reported by the company, becoming the first regulated entity of the region focused on this type of services.

In particular, this marks the first vara permit for an offer of cryptocurrency derivatives in the local market.

The authorization “brand orna Nueva era for the trade of institutional cryptocurrencies in Dubaisaid in a publication of X On Wednesday the team of Digital laser While celebrating the advance.

Cryptocurrency derivatives are financial contracts that allow specular investors on asset price movements such as Bitcoin and Ethereum without having them directly or using them to manage risks.

The main types of derivatives include futures contracts that force to buy or sell a cryptocurrency at a predetermined price on a future date-, and options that give the right, but not the obligation, to buy (Call) or sell (Put) A cryptocurrency at a specific price before or on a certain date.

In the case of Digital laserthe company will focus on offering options for the main OTC cryptocurrencies, that is, extraburstiles; directly between two parts, without intermediation of a stock exchange or other centralized platform.

Dubai: a regulated crypto innovation standard

With this approval, Digital laser It is now open to business and actively participates with counterparts looking for derived solutions structured in the cryptocurrency space, including coverage strategies, improvement in the performance and management of volatility, the company said in a press release.

Development occurs in the midst of the efforts of the Dubai government to position itself as a central axis in the development and adoption of technology Blockchain and cryptocurrencies in the Middle East already global level.

One of the most notable actions was the creation in 2022 of Vara. This regulatory body became the first independent entity dedicated exclusively to the supervision of digital assets and has granted licenses to large Exchange as Binance and OKX.

We appreciate the solid association with a rod, which has positioned itself as a visionary regulator in the space of digital assets. His leadership is allowing Dubai to establish the global standard for responsible innovation in the financing of digital assets“, Commented in this regard Jez Mohideen, co -founder and CEO of Digital laser

This year, Dubai announced that he would begin to accept cryptocurrencies for the payment of government services and launched the first real estate token platform graduated in the EAU, as part of the efforts to consolidate as a meeting point for companies and developers of the world of cryptocurrencies.


Hannah Pérez / Diariobitcoin

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