Nomura is quietly exploring a sale of its cryptocurrency arm, Laser Digital, months after the unit secured a Japanese crypto license — a move that underscores how legacy banks are still grappling with the economics of institutional digital-asset businesses. Bloomberg reported on November 11 that Nomura has held preliminary talks with potential buyers, including London-based Marex Group. Discussions are early-stage: no decision has been made and Nomura could either retain Laser Digital or pursue a sale. No price or timetable has been disclosed, and Bloomberg did not identify other potential bidders. Why this matters - Laser Digital was launched by Nomura in 2022 to serve institutional crypto clients and has expanded into areas such as DeFi and private credit. But trading losses at the unit — particularly during prior market volatility — have contributed to pressure on Nomura’s European operations. - In its October 28 financial results, Nomura said its Europe business posted a ¥7.4 billion (about $46.5 million) pretax loss in the quarter ended September 30, marking the fourth consecutive quarterly loss for the region. The firm did not break out Laser Digital’s specific contribution to that loss in the public filings. - At the group level, Nomura still reported ¥103.7 billion in net income for the September quarter (down 29% from the prior quarter) and ¥148 billion in consolidated pretax profit, driven largely by profitable operations outside Europe. Six-month net income reached ¥249.3 billion. Risk management and prior steps Nomura has already taken steps to limit crypto exposure. CFO Hiroyuki Moriuchi acknowledged losses tied to Laser Digital trading during October and November 2025 and said the bank would “lower the risk exposure of our positions” while continuing to grow the business over the medium to long term. Measures include tighter position management designed to reduce swings in trading earnings. Regulatory milestones for Laser Digital Despite the reported sale talks, Laser Digital has made regulatory progress: - August: Laser Digital Japan received registration as a cryptocurrency exchange service provider under Japan’s Payment Services Act — the first new crypto exchange registration in Japan in about four years. The Japan arm initially planned to provide liquidity to domestic crypto firms before rolling out institutional trading services. - May: The US Office of the Comptroller of the Currency granted preliminary conditional approval for Laser Digital National Trust Bank, which aims to offer custody for digital assets, securities and fiat. That approval is conditional; final authorization requires satisfying preopening requirements. - Laser Digital also holds permissions in the UAE and offers investment products for professional investors. Potential buyer profile Marex, named in reports, already serves institutional clients in digital markets — offering market access, clearing, financing and structured products. In October, Marex launched an over-the-counter rolling spot crypto product that lets institutions take long or short exposures via cash-settled derivatives without holding the underlying coins. Wider context Nomura still operates other digital-asset businesses such as Komainu (institutional custody) and Boostry (tokenized financial products). The chatter around Laser Digital’s future arrives as other established banks push into crypto: Deutsche Bank recently launched institutional crypto custody in Europe, and Israel’s Discount Bank announced Bitcoin and Ether trading for eligible mobile-banking customers starting November 26, supported by Fireblocks. What to watch - Whether talks progress beyond preliminary discussions and if a buyer emerges (and at what valuation). - How Nomura allocates capital between retaining and scaling crypto operations like Laser Digital, Komainu and Boostry versus trimming exposure. - Regulatory approvals for Laser Digital’s US bank project and how the Japan registration translates into institutional business growth. Bottom line: Nomura’s potential move to sell Laser Digital highlights the tension between strategic ambition in digital assets and the short-term profitability pressures that can follow volatile crypto markets. Read more AI-generated news on: https://app.chaingpt.org/news