Just three months after securing Japan’s first new crypto exchange license in four years, Nomura is considering selling its crypto subsidiary.
Bloomberg reported on November 11 that Nomura Holdings, Japan’s largest brokerage, is considering selling its cryptocurrency subsidiary Laser Digital. It has held preliminary talks with potential buyers, including London-listed financial services group Marex. The discussions are still at an early stage, and no final decision has been made. Nomura may also decide to keep the subsidiary or sell it to another buyer. No price or timeline has been disclosed.
Nomura established Laser Digital in Zurich in 2022 as its crypto business, offering trading, asset management, and venture capital services to institutional clients. In August this year, it secured Japan’s first new crypto exchange license in four years, and in 2026 it also received preliminary approval for a U.S. trust bank charter. It was expanding just three months ago, and now it is reportedly up for sale. The backdrop is that Nomura’s European business has posted a pretax loss for the fourth consecutive quarter, losing ¥7.4 billion (about $46.5 million) in the quarter ended September 30. Losses at Laser Digital in an earlier period were said to have weighed on the European business.
What to make of this: Don’t rush to interpret this as “big banks turning bearish on crypto.” The losses are in Nomura’s European business itself, and Laser Digital is just one part of it. What’s more, on the same day, Deutsche Bank launched digital asset custody services. Big banks aren’t all pulling out; they’re going in different directions. There are two things worth watching: First, Marex already serves institutional clients in crypto, so if it takes over, the business would simply have a new owner—it wouldn’t be shutting down. Second, if it is ultimately sold at a low price, that would be a sign that institutions are cutting their losses in a bear market. For now, $BTC is hovering around $73,600. Crypto trading volume in Japan fell by more than half in the first nine months of the year. The institutional winter is real, but so is the divergence.
Data as of: 2026-11-12 08:05 UTC
For informational purposes only; this does not constitute investment advice.
Bloomberg reported on November 11 that Nomura Holdings, Japan’s largest brokerage, is considering selling its cryptocurrency subsidiary Laser Digital. It has held preliminary talks with potential buyers, including London-listed financial services group Marex. The discussions are still at an early stage, and no final decision has been made. Nomura may also decide to keep the subsidiary or sell it to another buyer. No price or timeline has been disclosed.
Nomura established Laser Digital in Zurich in 2022 as its crypto business, offering trading, asset management, and venture capital services to institutional clients. In August this year, it secured Japan’s first new crypto exchange license in four years, and in 2026 it also received preliminary approval for a U.S. trust bank charter. It was expanding just three months ago, and now it is reportedly up for sale. The backdrop is that Nomura’s European business has posted a pretax loss for the fourth consecutive quarter, losing ¥7.4 billion (about $46.5 million) in the quarter ended September 30. Losses at Laser Digital in an earlier period were said to have weighed on the European business.
What to make of this: Don’t rush to interpret this as “big banks turning bearish on crypto.” The losses are in Nomura’s European business itself, and Laser Digital is just one part of it. What’s more, on the same day, Deutsche Bank launched digital asset custody services. Big banks aren’t all pulling out; they’re going in different directions. There are two things worth watching: First, Marex already serves institutional clients in crypto, so if it takes over, the business would simply have a new owner—it wouldn’t be shutting down. Second, if it is ultimately sold at a low price, that would be a sign that institutions are cutting their losses in a bear market. For now, $BTC is hovering around $73,600. Crypto trading volume in Japan fell by more than half in the first nine months of the year. The institutional winter is real, but so is the divergence.
Data as of: 2026-11-12 08:05 UTC
For informational purposes only; this does not constitute investment advice.
