Nomura Holdings, one of Japan's largest financial services companies, is reportedly considering selling its cryptocurrency subsidiary, Laser Digital, according to Bloomberg. The company has held discussions with potential buyers, including financial services firm Marex Group, though no final decision has been made.
The potential sale follows Nomura's European operations reporting a pretax loss of 7.4 billion yen ($46.5 million) in the third quarter of 2026, marking their fourth consecutive quarterly loss. However, Nomura has not confirmed whether Laser Digital contributed to this financial setback.
Laser Digital's Recent Expansion
Laser Digital was established in 2022 and provides institutional crypto trading, asset management, and investment services. Despite the possibility of a sale, the subsidiary has continued expanding its operations.
In August 2026, Laser Digital Japan secured the country's first new crypto exchange registration in approximately four years, allowing it to offer institutional trading and liquidity services. The subsidiary also received preliminary approval from the US Office of the Comptroller of the Currency in May to establish a national trust bank.
Market Context and Pressures
The potential sale comes amid broader market volatility and Japan-specific economic factors. Japan's latest inflation data has increased expectations that the Bank of Japan could raise interest rates again in December. Producer prices rose 7.1% in October, exceeding economist expectations of 6.5%. Import prices also surged 24.8% in yen terms, largely due to the weak Japanese currency making imported fuel, raw materials, and other goods more expensive.
A December rate increase would mark the first time since 1989 that Japan has raised interest rates three times in one calendar year. The United States recently joined Japan in supporting the yen through a coordinated foreign exchange intervention, marking the first such involvement since 1998.
Japan's Growing Crypto Market
Japan has an estimated 5 million cryptocurrency owners, though crypto adoption remains relatively limited. According to market estimates, Japan's cryptocurrency market was valued at $1.69 billion in 2025 and is expected to grow to $1.98 billion in 2026, potentially reaching $7.12 billion by 2034, representing a compound annual growth rate of 17.32% between 2026 and 2034.
This growth outlook comes as Japan's major banking groups, including MUFG, SMBC, and Mizuho, are exploring yen stablecoins and cross-border payments.
