Nomura pushes for crypto trading access in Japan
Japan's largest investment bank, Nomura Holdings, is seeking regulatory approval to expand its cryptocurrency services through its subsidiary Laser Digital. This move comes amid surging crypto adoption in Japan, with transaction values doubling this year. The effort highlights growing institutional interest in digital assets despite some operational challenges.
Nomura Holdings, Japan's biggest investment bank and brokerage, is deepening its involvement in the country's booming cryptocurrency market. Its wholly owned subsidiary, Laser Digital, is collaborating with Japan's Financial Services Agency (FSA) to secure approval for offering crypto trading services to institutional investors.
Laser Digital was launched by Nomura in 2022 to provide asset management and venture capital in the crypto space. In 2023, it obtained a full crypto license in Dubai and established a branch in Japan. Now, the firm aims to extend trading services to traditional financial institutions and crypto entities, including exchanges operating in Japan.
Laser Digital CEO Jez Mohideen emphasized the strategic importance of this application in a Bloomberg article dated October 3, 2025: "The application underscores Nomura’s strong belief in Japan’s digital asset space and its long-term potential."
Japan's crypto sector has seen remarkable growth. Data from the Japan Virtual and Crypto Assets Exchange Association shows transaction values doubled to ¥33.7 trillion ($230 billion) in the first seven months of the year. From June 2024 to June 2025, on-chain transaction values surged 120%, surpassing South Korea, India, and Vietnam, according to Chainalysis. This momentum is supported by global policies, particularly in the US, along with domestic tax cuts, clearer rules for crypto investment funds, and policies treating tokens as investment-grade assets. Japan has also licensed its first yen-backed stablecoin issuer.
Other traditional finance players are following suit. Daiwa Securities, Japan's second-largest brokerage, now allows customers at its 181 retail branches to use Bitcoin and Ether as collateral for yen loans.
However, challenges persist. Earlier this year, Nomura reported losses in its European operations, partly attributing them to Laser Digital's underwhelming performance. Mohideen initially hoped for profitability within two years but later indicated it could take longer.
Despite these hurdles, Nomura's initiatives signal a serious commitment to Japan's evolving crypto landscape.