Laser Digital Aims for Japan Crypto Trading License, Sees Growing Market
Nomura-owned Laser Digital is set to apply for a crypto trading license in Japan, aiming to serve institutional clients. The company, which offers digital-asset services and has a full crypto business license in Dubai, is in pre-consultation talks with Japan's Financial Services Agency. Crypto transaction volume in Japan has doubled in seven months, reaching 33.7 trillion yen ($230 billion).
Laser Digital, if approved, will offer broker-dealer services for both traditional financial institutions and crypto firms in Japan. The company is also exploring the creation of stablecoins in Japan, both JPY- and USD-pegged, in collaboration with GMO Internet Group. Nomura, through Laser Digital, has already launched Bitcoin and Ethereum Adoption Funds for institutional investors. Laser Digital CEO Jez Mohideen expresses optimism in Japan's growing crypto industry.
Laser Digital's expansion into Japan comes despite Nomura reporting a quarterly loss in its European market, partly due to Laser Digital's underperformance. To bolster its presence in Asia, Nomura-backed crypto custodian provider Komainu purchased crypto custodian firm Propine to expand into the region.
Laser Digital's application for a crypto trading license in Japan signals the company's confidence in the country's growing crypto market. If approved, it will offer a range of services to institutional clients, including broker-dealer services and stablecoin creation. Despite recent losses in Europe, Nomura remains committed to expanding its crypto operations in Asia.
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