The news comes with crypto pushing further into mainstream financial services in the country
[TOKYO] Nomura Holdings plans to expand in Japan’s digital-asset market through a subsidiary, as crypto trading in the country heats up.
The brokerage’s wholly owned Laser Digital Holdings is preparing to apply for a license to offer crypto trading services for institutional clients in Japan, chief executive officer Jez Mohideen said in response to queries from Bloomberg News. The Switzerland-based unit is currently in pre-consultation talks with Japan’s Financial Services Agency, he added.
With digital assets booming off the back of US President Donald Trump’s pro-crypto policies, the value of Japan’s crypto transactions doubled in the first seven months of the year to 33.7 trillion yen (S$294 billion), according to Japan Virtual and Crypto Assets Exchange Association data. Anticipated overhauls in Japan, including tax cuts and pathways for crypto-focused funds, are another lure for new entrants.
“Our entry into Japan reflects our optimism in the Japanese digital-asset ecosystem,” Mohideen said.
The news comes with crypto pushing further into mainstream financial services in the country. Daiwa Securities Group, Japan’s second-largest brokerage after Nomura, said earlier this week that clients at its 181 retail offices can use Bitcoin and Ether as collateral to borrow yen.
Unveiled in 2022, Laser offers a range of digital-asset services, including asset management and venture capital. It obtained a full crypto business license in Dubai in 2023 and set up a Japanese unit the same year.
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More recently, Nomura swung to a quarterly loss in Europe partly because of Laser’s “not very good” performance, chief financial officer Hiroyuki Moriuchi said in July. Mohideen said in 2022 that he expected the unit to show a profit within two years, though he warned a year later that it may take longer than expected to break even.
If approved, Laser will launch broker-dealer services for traditional financial firms and crypto companies, including digital-asset exchanges in Japan, Mohideen said. BLOOMBERG
