Laser Digital, the digital asset arm of Nomura Group, today announced that it has received in-principle approval from the Dubai Virtual Assets Regulatory Authority (VARA) to tokenize its global flagship Laser Carry Fund (LCF) based on VARA’s pilot ARVA framework.
This approval paves the way for Laser Digital to issue Tokenized LCF (TLCF), an institutional grade token offering tokenized units of Laser Digital Carry Fund SP, a segregated portfolio in the Cayman Islands, to professional and institutional investors.
According to the company, each TLCF will be made available on one or more public blockchains via KAIO, while Komainu will act as a VARA-licensed custodian of the underlying tokenized fund units.
Unlike traditional fund units, TLCF will be tradable on the secondary market and on select VARA accredited exchanges, and Laser Digital says this feature adds liquidity and configurability to institutional real world assets (RWA) products.
Subscriptions and redemptions occur within pre-set time periods, prices are linked to the fund’s net asset value, and secondary trading is permitted subject to compliance controls and VARA eligibility rules.
“In-principle approval for the launch of the first Dubai-native RWA asset management token is an important step towards responsibly offering investors a configurable RWA product for institutional investors. Building on our shared commitment to higher governance and robust investor policies in active on-chain asset management, we are pleased to launch this product under VARA,” said Jez Mohideen, Co-Founder and CEO of Laser Digital.
On-chain products for professional investors
Laser Digital stated that LCF tokens will only be issued to professional and institutional investors who meet VARA eligibility criteria. The company described TLCF as the first in a planned series of RWA asset management tokens built on the ARVA framework, with further institutional offerings planned for the future.
The tokenized LCF whitepaper will be provided on-demand to accredited investors. Interested parties can register through Laser Digital’s asset management page here. The move marks a notable milestone for Dubai’s nascent regulated tokenization market and traditional financial institutions experimenting with on-chain fund structures.
Founded by Nomura to bridge traditional and crypto markets, Laser Digital positions itself as a full-service digital asset company offering trading, asset management, technology solutions, and early stage investments.
The company said VARA’s approval is based on its institutional framework and risk management capabilities as it seeks to offer regulated on-chain products to professional investors.
Industry observers see Dubai’s ARVA pilot as a litmus test for how traditional fund structures can adapt to blockchain rails while remaining within established regulatory guardrails. Laser Digital’s TLCF has a regulated custodian and exchange access and could be notable as the first institutional-grade RWA token to participate in VARA’s pilot program.
