Nomura’s Laser Digital Prepares Japan Crypto License Push as Trading Volumes Surge

TLDR:

• Nomura’s Laser Digital is in talks with Japan’s FSA to apply for a crypto trading license for institutional services.
• Japan’s crypto transactions doubled to ¥33.7 trillion in 2025, boosted by regulatory reforms and pro-crypto policies.
• If approved, Laser Digital will provide broker-dealer services for financial firms and digital-asset exchanges in Japan.
• Laser already holds a Dubai crypto license and launched a Japanese unit in 2023 to expand its digital-asset presence.
  

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Crypto activity in Japan is climbing, and global institutions are watching. Nomura Holdings is preparing its digital-asset arm, Laser Digital, for the next step. The company is seeking approval to run crypto brokerage services for institutional players. 

Discussions with regulators are underway as the country embraces new rules and higher volumes. The move would place Laser inside one of Asia’s fastest-growing crypto markets.

Nomura’s Laser Digital Eyes Japan Crypto License

According to a Bloomberg report, Nomura’s Switzerland-based subsidiary Laser Digital Holdings AG is holding preliminary talks with Japan’s Financial Services Agency. 

The discussions focus on securing approval for a crypto trading license aimed at institutional clients.

Chief Executive Jez Mohideen said that, if the application is successful, Laser will offer broker-dealer services. The plan includes servicing banks, traditional asset managers, and crypto firms such as exchanges already operating in Japan.

Japan’s crypto industry is expanding rapidly. Data from the Japan Virtual and Crypto assets Exchange Association showed that transaction values doubled in the first seven months of 2025, reaching ¥33.7 trillion ($230 billion). 

Observers have linked the growth to global momentum and domestic reforms, including tax cuts and new fund pathways.

Laser’s expansion into Japan marks a return to one of Nomura’s core markets. The company has said its entry reflects long-term optimism about the country’s digital-asset framework. 

Market watchers believe the new rules have made Japan attractive for foreign and local players alike.

Crypto Market Growth Fuels Institutional Interest

Laser Digital, unveiled in 2022, offers a mix of services in digital-asset management and venture capital. The unit secured a full crypto license in Dubai last year and opened a Japanese office soon after.

However, the path has not been without hurdles. In July, Nomura reported a quarterly loss in Europe, citing Laser’s underperformance as one factor. Company executives admitted that profitability may take longer than initially forecast.

Mohideen said earlier that the group expected the unit to break even within two years. By 2023, though, he warned that the timeline could extend due to slower-than-expected returns. 

Even so, he noted the importance of building a presence in regulated markets.

Crypto commentators in Japan, such as industry watchers on social media, said the timing aligns with reforms encouraging stablecoins and fund structures. With more institutions exploring digital assets, a licensed broker in Japan could become an early beneficiary.

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