Overview

• Laser Digital said it is in pre-consultation with Japan’s Financial Services Agency ahead of a formal application for a crypto trading license.
• If approved, the Nomura unit plans to operate as a broker-dealer for banks, traditional asset managers, and crypto firms including exchanges in Japan.
• Japan’s crypto transaction value doubled to ¥33.7 trillion in the first seven months of 2025, according to the Japan Virtual and Crypto Assets Exchange Association.
• Institutional integration is accelerating, with Daiwa Securities now accepting bitcoin and ether as collateral for yen loans across 181 retail branches.
• Laser holds a full crypto license in Dubai and set up a Japan unit in 2023, though underperformance has weighed on Nomura’s results and extended the path to profitability.