Nomura Holdings Inc. is considering selling its Zurich-based crypto subsidiary, Laser Digital Holdings AG, and has held preliminary talks with potential buyers including Marex Group Ltd. The potential retreat follows substantial crypto market swings that contributed to a 7.4 billion yen ($46.3 million) pre-tax loss for Nomura's European operations in the quarter ended September 30, 2026. The move comes despite Laser Digital obtaining key regulatory approvals in the U.S. and Japan in 2026.
Nomura considers Selling Laser Digital
- ▪Nomura Holdings Inc. is exploring the sale of its Zurich-based crypto subsidiary Laser Digital Holdings AG and has held preliminary talks with potential buyers including Marex Group Ltd.
- ▪Nomura Holdings Inc. has not reached a final decision regarding Laser Digital Holdings AG and may retain the business or sell to another buyer
- ▪Spokespeople for Nomura Holdings Inc. and Marex Group Ltd. declined to comment or did not immediately respond to requests regarding potential transaction talks for Laser Digital Holdings AG
Laser Digital performance and strategy changes
- ▪Losses at Laser Digital Holdings AG contributed to Nomura Holdings Inc.'s European operations posting a pre-tax loss of 7.4 billion yen ($46.3 million) for the quarter ended September 30, 2026
- ▪In response to crypto earnings volatility at Laser Digital Holdings AG, Nomura Holdings Inc. Chief Financial Officer Hiroyuki Moriuchi stated in January 2026 that the firm planned to reduce trading risk while expanding custody and asset management services
Laser Digital origins and regulatory steps
- ▪Laser Digital Holdings AG was founded in Zurich in 2022, partly co-led by Nomura veteran Steven Ashley, to provide institutional crypto trading, asset management, and venture capital investments in crypto startups
- ▪In May 2026, Laser Digital Holdings AG received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency for a proposed national trust-bank charter to provide digital asset custody and administration
- ▪Laser Digital Japan secured registration as a crypto asset exchange service provider in August 2026 to supply liquidity to licensed domestic crypto firms
Nomura digital asset ventures
- ▪Nomura Holdings Inc. holds additional digital-asset ventures, including tokenization platform Boostry, custody provider Komainu, and a minority stake in Line Xenesis Corp., which shut its Line Bitmax exchange in June 2026
- ▪Laser Digital Holdings AG expanded its business into decentralized finance fixed income and emerging-market private credit
Cryptocurrency landscape in Japan
- ▪Cryptocurrency transaction volume in Japan fell by more than half year-over-year to ¥17.2 trillion ($108.5 billion) during the first nine months of 2026, according to the Japan Virtual and Crypto Assets Exchange Association
- ▪The Japanese government plans to lower the tax rate on gains from cryptocurrency investments
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