Nomura Holdings, Japan's largest brokerage, is exploring a potential sale of Laser Digital, its Zurich-based digital asset subsidiary. According to Bloomberg, the company has held talks with prospective buyers, including Marex Group, though Nomura has not made a final decision and could still sell to another party or retain the business.
Laser Digital, which Nomura launched in 2022, provides crypto trading, asset management, and on-chain credit services to institutional clients. The unit posted a loss last year as crypto markets experienced significant volatility, contributing to losses in Nomura's European operations overall.
The consideration of a sale comes as crypto markets face headwinds. Bitcoin trades roughly 40% below its record high, pressuring trading and asset management revenues. The unit has expanded into DeFi fixed income and emerging-market private credit services.
The timing of the potential sale contrasts with recent institutional expansion in the sector. In August, Laser Digital Japan received registration as a crypto asset exchange service provider—Japan's first new crypto license in roughly four years. The license covers Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and Shiba Inu, with the subsidiary planning to supply liquidity to Japan's licensed crypto firms rather than target retail traders.
The outcome remains uncertain. A sale would represent a significant retreat for one of Japan's most prominent financial institutions from the digital assets sector, while a decision to retain Laser Digital would signal confidence in crypto as a core business line.
