Nomura’s Laser Digital Plans Crypto Trading Expansion in Japan Market

TLDR

• Nomura’s subsidiary Laser Digital seeks approval to offer crypto trading services in Japan.
• Laser Digital aims to expand its institutional client base in the rapidly growing Japanese market.
• Japan’s crypto market saw a significant increase in trading value, reaching $230 billion this year.
• The expansion comes amid supportive policies in Japan and abroad, particularly in the U.S.
• Laser Digital previously secured a full crypto business license in Dubai and established a Japanese subsidiary in 2023.

Nomura Holdings aims to expand its presence in Japan’s digital asset market through its subsidiary Laser Digital Holdings. Laser, based in Switzerland, is seeking approval from Japan’s Financial Services Agency (FSA) to offer trading services to institutional clients. This move comes as Japan’s crypto market experiences rapid growth.

Laser’s Application Reflects Confidence in Japan’s Crypto Ecosystem

Laser Digital Holdings is in talks with Japan’s FSA about obtaining a license to offer digital asset trading services. CEO Jez Mohideen confirmed that the company is in pre-consultation discussions with the agency. “The application reflects our confidence in Japan’s evolving digital asset ecosystem,” Mohideen stated. This development aligns with the growing interest in digital assets in Japan, as the crypto market surges.

Laser’s plans reflect broader trends in Japan’s financial sector. The country’s crypto trading market has seen impressive growth this year. According to the Japan Virtual and Crypto assets Exchange Association, the market’s transaction value doubled to ¥33.7 trillion ($230 billion) in the first seven months of the year.

Nomura’s Laser Expands Crypto Services in Japan

Japan’s expanding crypto market has been aided by supportive policies both domestically and internationally. Changes in tax regulations and rules for crypto-focused funds are expected to boost the sector further. Policies in the U.S. have also contributed to the global momentum surrounding digital assets.

The growth of the crypto market in Japan has not gone unnoticed. Daiwa Securities recently announced that clients at its 181 retail branches can now use Bitcoin and Ether as collateral for loans. These shifts highlight the increasing integration of digital assets into traditional financial services in Japan.

Nomura launched Laser Digital Holdings in 2022 to offer a variety of services, including asset management and venture capital. In 2023, Laser secured a full crypto business license in Dubai and established a subsidiary in Japan. If Laser’s application is approved, it plans to offer broker-dealer services to both crypto firms and traditional financial institutions in Japan.

Despite these ambitions, Laser’s performance has faced challenges. Nomura reported a quarterly loss in Europe earlier this year, partly due to Laser’s underperformance. However, CEO Jez Mohideen remains optimistic about the company’s future. “We expect a profitable future, though it might take longer than initially anticipated,” Mohideen added.

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