Dubai’s VARA Approves First Institutional Tokenized Fund
Dubai’s VIRTUAL Assets Regulatory Authority (VARA) has granted approval for the Laser Carry Fund (LCF) to become the emirate’s first institutional-grade tokenized real-world asset (RWA) product. The fund will be accessible exclusively to qualified institutional investors meeting VARA’s eligibility criteria.
Each TLCF token represents exposure to the Cayman Islands-domiciled Laser Digital Carry Fund SP, with KAIO facilitating blockchain distribution and Komainu serving as the licensed custodian. Secondary trading will be enabled on VARA-approved crypto exchanges, creating a regulated pathway for institutional participation in tokenized assets.
"This marks a watershed moment for composable RWA products," said Laser Digital CEO Jez Mohideen. The launch aligns with Dubai’s strategy to position itself as a global hub for institutional crypto innovation while maintaining stringent governance standards.
