In a significant development for the region’s digital asset landscape, Dubai-headquartered Laser Digital, the digital assets subsidiary of Nomura Group, has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval allows the firm to launch the first real-world asset (RWA) tokenisation pilot under VARA’s new Asset-Referenced Virtual Assets Issuance Rules (ARVA Framework), setting a new precedent for institutional-grade digital investment products in the UAE.
A Milestone for Dubai’s Digital Asset Scene
The approval marks the first time an institutional-grade RWA tokenised product will be offered under VARA’s regulatory oversight. The move positions Dubai as a progressive hub for digital finance, building on a commitment to robust governance and investor protection. Laser Digital will tokenise its flagship Laser Carry Fund (LCF), offering professional and institutional investors regulated exposure to digital assets through a familiar fund structure. Jez Mohideen, Co-founder and CEO of Laser Digital, noted that the approval is a key step in delivering “institutional-grade and composable RWA products to investors” and praised the collaboration with VARA in advancing active on-chain asset management.
How the Tokenised Fund Works
The product, known as the Tokenised LCF (TLCF), will offer tokens that represent units of the Laser Digital Carry Fund SP, a Cayman Segregated Portfolio. The tokens will be made available on public blockchains through its on-chain partner, KAIO, with Komainu serving as the VARA-licensed custodian for the tokenised fund units. The TLCF is designed exclusively for professional and institutional investors who meet VARA’s eligibility criteria. A key feature of the token is its planned tradability on the secondary market via select VARA-licensed exchanges, which enhances liquidity and accessibility for qualified investors. This launch is the first in a planned series of RWA asset management tokens from Laser Digital, with intentions to expand the offering to other institutional products.
About Laser Digital
Laser Digital is a full-service digital asset firm specialising in Trading, Asset Management, Solutions, and Early-Stage Investing. Nomura established Laser Digital to provide new value in digital assets to its clients, bridging traditional and crypto markets. We are positioned uniquely in the market, combining institutional-grade framework and risk management.
Source: Zawya
