Laser Digital, a subsidiary of Nomura, is reportedly in preliminary discussions with the Japanese financial services authority to apply for a crypto assets license, marking a significant step towards expanding its presence in the Japanese crypto market.
Introduction to Laser Digital’s Crypto Ambitions
Laser Digital, owned by Nomura, is preparing to apply for a crypto trade license in Japan to serve institutional customers. Despite recent financial setbacks, Nomura is deepening its crypto thrust through Laser Digital with funds, stable coin initiatives, and acquisitions. This move reflects the company’s optimism in the growth of the Japanese crypto industry.
Nomura’s Crypto Initiatives
Nomura has been making significant movements in the crypto space through its subsidiaries. With Laser Digital, Nomura has launched products such as the Bitcoin Adoption Fund and an Ethereum adoption fund, offering institutional investors exposure to these assets with potential earnings improvements like staking. Additionally, Laser Digital is exploring the creation of stable coins in Japan in cooperation with the GMO Internet group, including “StableCoin-As-a-Service” offers with regulatory, back-end, and blockchain integration support.
In October last year, Komainu, a crypto custodian bank provider supported by the Nomura Group, acquired Crypto Custodian company Propine, leading to speculation that Nomura would acquire more crypto companies to expand its presence in Web3. These initiatives demonstrate Nomura’s commitment to the crypto space and its efforts to provide a range of services to institutional customers.
Japan’s Crypto Market Growth
The volume of crypto transactions in Japan has doubled in just seven months this year, reaching 33.7 trillion yen or approximately $230 billion, according to the Japan Virtual and Crypto Assets Exchange Association. This significant growth indicates a resurgence of interest in the Japanese crypto industry, with more investors flowing into digital assets. Laser Digital’s planned entry into the Japanese market is well-timed, given this growing demand for crypto services.
Laser Digital was founded in 2022 and already offers a range of digital asset services, including asset management and risk capital. The company received a complete crypto business license in Dubai in 2023 and established a Japanese unit within the same year. While Laser Digital has faced losses, Nomura remains committed to its crypto ambitions, with CEO Jez Mohideen expressing optimism about the growth prospects of the Japanese crypto industry.
For more information on Nomura’s subsidiary and its plans to apply for a crypto license in Japan, visit https://crypto.news/nomura-subsidiary-eyes-crypto-license-in-japan-report/
