Nomura Holdings has held discussions about selling its cryptocurrency subsidiary Laser Digital, following trading losses at the business and another quarterly loss for the Japanese brokerage’s European operations.
Summary
- Nomura is reportedly considering selling Laser Digital, with Marex among companies evaluating a possible acquisition.
- Nomura’s European operations reported a ¥7.4 billion pretax loss during the September quarter of 2026.
- The brokerage previously reduced cryptocurrency trading exposure after losses affected Laser Digital’s financial performance.
- Laser Digital secured Japanese cryptocurrency exchange registration and preliminary US trust bank approval during 2026.
- Deutsche Bank launched institutional crypto custody as Israel Discount Bank announced its upcoming cryptocurrency service.
Bloomberg reported on November 11 that Nomura has approached potential buyers, including financial services firm Marex Group, which is evaluating a possible acquisition. The discussions remain preliminary, with no final decision on whether the Zurich-based company will be sold.
Nomura could retain Laser Digital or negotiate with another buyer, according to people familiar with the talks.
Nomura explores Laser Digital sale after European losses
The possible sale follows a difficult period for Laser Digital, which Nomura established in 2022 to serve institutional cryptocurrency investors.
According to Nomura’s October 28 financial results, its European operations recorded a ¥7.4 billion ($46.5 million) pretax loss during the quarter ended September 30.
Europe has now reported losses for four consecutive quarters, while Nomura’s other geographic operations remained profitable during the latest reporting period.
The financial statements do not separately disclose Laser Digital’s contribution to the September-quarter loss. However, Bloomberg reported that losses at the subsidiary during an earlier period of cryptocurrency market volatility had pushed Nomura’s European business into the red.
Despite the regional losses, Nomura reported ¥103.7 billion in group net income for the September quarter, down 29% from the preceding three months.
Its consolidated pretax profit reached ¥148 billion, supported by operations outside Europe. The company reported ¥249.3 billion in net income for the six months ended September.
Nomura had already taken steps to limit exposure to cryptocurrency market movements.
During a January 30 earnings call, Chief Financial Officer Hiroyuki Moriuchi acknowledged losses associated with Laser Digital’s trading activities during October and November 2025.
He said the company would “lower the risk exposure of our positions” while continuing to expand the subsidiary’s business over the medium to long term.
The measures included tighter position management intended to reduce fluctuations in trading earnings.
Laser Digital recently secured licenses in Japan and the US
Laser Digital’s reported sale discussions follow several regulatory developments involving the subsidiary.
In August, Laser Digital Japan received registration as a cryptocurrency exchange service provider under Japan’s Payment Services Act.
As crypto.news previously reported, the approval made Laser Digital the country’s first newly registered cryptocurrency exchange operator in approximately four years.
The Japanese business initially planned to provide liquidity to domestic cryptocurrency companies before introducing trading services for institutional investors.
In May, the US Office of the Comptroller of the Currency granted preliminary conditional approval for Laser Digital National Trust Bank.
The proposed bank would provide custody services for digital assets, securities and traditional currencies, alongside selected services for institutional clients.
The OCC approval does not permit the bank to begin operations immediately. Laser Digital must satisfy the regulator’s preopening requirements before receiving final authorization.
Outside Japan and the United States, Laser Digital holds regulatory permissions in the United Arab Emirates and operates investment products serving professional investors.
Marex expands crypto services as Nomura considers sale
Marex, one of the companies reportedly considering an acquisition, already provides cryptocurrency trading and financial services to institutional customers.
The London-based company offers market access, clearing, financing and structured products across digital asset markets.
On October 1, Marex announced a new over-the-counter rolling spot cryptocurrency product for institutional clients.
The product allows customers to take long or short positions through cash-settled derivatives without directly holding the underlying cryptocurrencies.
Bloomberg has not identified any other prospective buyers for Laser Digital. Neither a proposed purchase price nor a timetable for concluding the discussions has been publicly disclosed.
Nomura continues to operate other digital asset businesses, including Komainu, which provides institutional custody services, and Boostry, which works on tokenized financial products.
Deutsche Bank and Israel Discount Bank expand crypto services
The reported discussions emerged on November 11, when other established financial institutions announced cryptocurrency services.
Deutsche Bank launched crypto custody for institutional and corporate customers in Europe.
The service allows eligible clients to hold Bitcoin, Ethereum and selected stablecoins, with the bank managing digital wallets and private keys.
Deutsche Bank said it had obtained regulatory approval from Germany’s financial regulator, BaFin, and signed an agreement with its asset management business to explore additional digital asset services.
In Israel, Discount Bank announced plans for Bitcoin and Ethereum trading through its mobile banking application.
The service is scheduled to begin November 26 for eligible adult customers with securities trading access. Fireblocks will provide infrastructure supporting the bank’s cryptocurrency wallets.
