Nomura Holdings, Japan’s largest brokerage, is exploring a sale of its crypto unit, Laser Digital. The move follows losses that hurt the bank’s European business last year.
Despite the market volatility, traditional banks have been expanding deeper into digital assets and custody in 2026. So, Nomura’s potential U-turn from the industry would be a surprise.
Why Nomura Is Considering Selling Laser Digital
Laser Digital is Nomura’s Zurich-based digital asset subsidiary. It offers crypto trading, asset management, and on-chain credit services to institutional clients. Nomura launched Laser Digital in 2022, during a deep crypto bear market.
According to Bloomberg, Nomura is in talks with potential buyers, including Marex Group. The report cites people familiar with the matter.
However, Nomura has not made a final decision. It could still sell to another party or keep the business.
The main reason appears to be financial. Laser Digital posted a loss last year as crypto markets swung sharply. That loss pulled Nomura’s European business into an overall loss.
Moreover, crypto markets remain under pressure. Bitcoin trades roughly 40% below its record high, which weighs on trading and asset management revenues.
Still, the unit has expanded into DeFi fixed income and emerging-market private credit.
Is Nomura Turning Its Back on Crypto?
Not necessarily, but the timing stands out. In August, Laser Digital Japan won registration as a crypto asset exchange service provider.
That was Japan’s first new crypto registration in roughly four years.
Notably, the license covers Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and Shiba Inu.
Laser Digital planned to supply liquidity to Japan’s licensed crypto firms, rather than target retail traders. Therefore, a sale could reshape Nomura’s ambitions in its home market.
The news also contrasts with moves by European peers. On the same day, Deutsche Bank officially launched crypto custody for Bitcoin, Ethereum, and stablecoins.
For now, the outcome remains uncertain. The decision will show whether Japan’s biggest broker sees crypto as a core business or a costly experiment. A sale would mark a notable retreat for one of Japan’s most prominent financial institutions.
