Nomura-owned subsidiary Laser Digital is preparing to expand its presence in Asia’s fast-growing digital asset sector, with early talks reportedly underway to secure a crypto trading license in Japan.
According to Bloomberg, the Switzerland-based firm is in preliminary consultations with Japan’s Financial Services Agency (FSA) about applying for a license that would allow it to offer crypto asset trading services to institutional clients.
Takashi Nakamichi
What the License Would Enable
If granted, Laser Digital would be able to provide broker-dealer services to both traditional financial institutions and crypto-native firms, while also supporting digital asset exchanges operating in Japan.
Laser Digital CEO Jez Mohideen told Bloomberg the firm’s push into Japan reflects confidence in the country’s maturing crypto ecosystem.
“We see strong growth potential in the Japanese market,” he noted, pointing to rising demand for digital assets among institutional players.
Crypto Trading Surge in Japan
The timing aligns with a sharp increase in crypto trading activity across Japan. Data from the Japan Virtual and Crypto Assets Exchange Association shows transaction volumes more than doubled in just seven months this year, climbing to 33.7 trillion yen (about $230 billion).
Analysts say the growth signals a renewed appetite for digital assets in Japan, which has long maintained one of the world’s most regulated crypto markets.
Laser Digital’s Global Footprint
Founded in 2022, Laser Digital has been building out its suite of services, spanning asset management, venture capital, and structured crypto products. The firm obtained a full crypto business license in Dubai in 2023 and launched a Japanese subsidiary later that year.
Among its products are the Bitcoin Adoption Fund and Ethereum Adoption Fund, designed to give institutional investors exposure to top cryptocurrencies, sometimes with added yield enhancements such as staking. The company has also explored stablecoin development in Japan through a partnership with GMO Internet Group, with plans for both yen- and dollar-pegged tokens under a “Stablecoin-as-a-Service” model.
Nomura’s broader strategy includes investments through Komainu, a crypto custodian it backs, which acquired Singapore-based custodian Propine in late 2023 — a move seen as part of its wider Web3 expansion.
Balancing Growth With Challenges
Despite its ambitious roadmap, Laser Digital has struggled financially. Nomura reported losses in its European operations, attributing part of the shortfall to Laser’s underperformance. Mohideen previously suggested the firm could be profitable within two years of its launch, but has since cautioned that the timeline to break even may be longer.
