Nomura Holdings, Japan's largest brokerage, is considering selling Laser Digital, its digital asset arm. Built in 2022 during a deep crypto slump, the Zurich unit focuses on institutional clients by providing markets execution, investment management, and on-chain credit offerings.
According to Bloomberg, which cited people familiar with the matter, Nomura has explored a transaction with suitors such as Marex Group. No decision has been made, and Nomura could divest to a different buyer or retain the business.
The motive is rooted in finances. Amid volatile crypto markets, Laser Digital recorded a loss last year, which in turn pushed Nomura's European unit into the red.
Even so, Laser Digital has pushed into DeFi fixed income and emerging market private credit. In August, Laser Digital Japan obtained approval as a provider of crypto-asset exchange services - the first new approval in Japan in roughly four years - covering Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and Shiba Inu. The plan is to provide liquidity to licensed Japanese crypto firms rather than chase retail, so a sale could reshape Nomura's strategy at home.
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In 2026, major banks pushed further into digital assets and safekeeping, making this potential pullback notable. That same day, Deutsche Bank formally launched custody for crypto assets, including Bitcoin, Ethereum, and stablecoins.
For Nomura, the outcome is still up in the air. The choice will show whether the firm treats crypto as a core line or a costly experiment, and a divestiture would mark a significant step back by a leading Japanese financial institution.
Why does that matter? If Nomura exits, it underlines how earnings from crypto units can swing inside traditional banks even as peers build custody pipelines. If it stays, it points to a longer runway for institutional crypto infrastructure despite choppy markets.
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