Laser Digital First to Secure VARA Approval to Tokenize Flagship Laser Carry Fund

Laser Digital, the digital-assets arm of Nomura Group, said today it has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to tokenize its global flagship Laser Carry Fund (LCF) under VARA’s pilot ARVA Framework.

The approval clears the way for Laser Digital to issue Tokenized LCFs (TLCF), institutional-grade tokens that give professional and institutional investors exposure to tokenized units of the Laser Digital Carry Fund SP, a Cayman Islands segregated portfolio.

According to the firm, each TLCF will be made available on one or more public blockchains via KAIO, while Komainu will serve as the VARA-licensed custodian for the underlying tokenized fund units.

Unlike traditional fund units, the TLCF will be tradable on the secondary market and on selected VARA-licensed exchanges, a feature Laser Digital says will add liquidity and composability to institutional real-world-asset (RWA) products.

Subscriptions and redemptions will take place during pre-set windows and pricing will be linked to the fund’s net asset value, with secondary trading permitted subject to compliance controls and VARA eligibility rules.

Jez Mohideen, Co-founder and CEO of Laser Digital, stated, “The in-principle approval to launch the first Dubai-native RWA asset management token is a key step in responsibly delivering institutional-grade and composable RWA products to investors. We’re pleased to launch this product under VARA, building upon our shared commitment to higher governance and robust investor policies in active on-chain asset management.”

On-chain Products for Professional Investors

Laser Digital said the LCF Token will be issued exclusively to professional and institutional investors who meet VARA’s eligibility criteria. The firm described the TLCF as the first in a planned series of RWA asset-management tokens built on the ARVA Framework, with further institutional offerings expected to follow.

A Tokenized LCF whitepaper will be made available on demand to eligible investors; interested parties can register via Laser Digital’s asset management page here. The move marks a notable milestone for Dubai’s nascent regulated tokenization market and for traditional financial institutions experimenting with on-chain fund structures.

Laser Digital, established by Nomura to bridge traditional and crypto markets, positions itself as a full-service digital-asset firm offering trading, asset management, technology solutions and early-stage investing.

The company said the VARA approval builds on its institutional framework and risk-management capabilities as it seeks to bring regulated, on-chain products to professional investors.

Industry observers have viewed Dubai’s ARVA pilot as a litmus test for how traditional fund structures can be adapted to blockchain rails while remaining inside established regulatory guardrails. Laser Digital’s TLCF, with a regulated custodian and exchange access, is likely to be watched closely as the first institutional-grade RWA token to participate in VARA’s pilot program.