Nomura’s Laser Digital Prepares to Bring Institutional Crypto Trading to Japan

Nomura Holdings Inc. is preparing to deepen its presence in Japan’s rapidly expanding crypto market. The brokerage giant’s wholly owned subsidiary, Laser Digital Holdings AG, is set to apply for a license to offer crypto trading services for institutional clients in Japan.

The Switzerland-based unit is currently in pre-consultation talks with Japan’s Financial Services Agency (FSA). If the application is approved, Laser plans to launch broker-dealer services catering to both traditional financial institutions and digital-asset exchanges in Japan.

Launched in 2022, Laser Digital provides digital-asset services ranging from asset management to venture capital. It has already secured a full crypto business license in Dubai and established a Japanese arm in 2023.

Japan’s Crypto Market Surge

The move comes as Japan sees massive crypto adoption this year. Trading volumes have surged, with the value of crypto transactions doubling in the first seven months of 2025 to $230 billion, data from the Japan Virtual and Crypto assets Exchange Association shows.

This boom is closely tied to the country’s weakening yen, rising inflation, and ultra-low interest rates persisting. As a result, investors are seeking alternatives as a hedge against economic uncertainty.

The surge in adoption is also visible on the retail side. Daiwa Securities Group Inc., the country’s second-largest brokerage, recently announced that clients can now use Bitcoin and Ether as collateral to borrow yen across its 181 retail branches.

Meanwhile, companies like Metaplanet have adopted Bitcoin as part of their treasury strategy. Financial giants including Nomura and SBI Holdings are also rolling out crypto investment products and stablecoin infrastructure.

On the regulatory front, Japan is working to create clearer rules for the industry. Proposals include classifying crypto as financial products under securities law, reducing capital gains tax from around 55% to 20%, and supporting the issuance of yen-pegged stablecoins.

The FSA has hinted that comprehensive legislation could be submitted by 2026. This would further institutionalize Japan’s crypto ecosystem.

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