Japan Positions Itself as Asia's Crypto Hub with Nomura's Strategic Expansion

Nomura Expands Japan Crypto Operations^[1] Nomura Holdings Inc. is expanding its cryptocurrency trading operations in Japan through its Switzerland-based subsidiary, Laser Digital Holdings AG, signaling a strategic pivot toward digital assets as regulatory conditions improve in the country. The firm is seeking a crypto trading license to serve institutional clients, with CEO Jez Mohideen stating the move reflects confidence in Japan's digital-asset ecosystem. Laser Digital plans to launch yen- and dollar-pegged stablecoins, aiming to enhance liquidity and facilitate cross-border transactions. This initiative aligns with Japan's growing institutional interest in crypto, where 54% of surveyed investors plan to allocate to digital assets within three years, according to a 2024 Nomura-Laser Digital survey.

Crypto News: Nomura’s Laser Digital Seeks Japan License^[2] Japan's crypto market has surged, with transaction values doubling to ¥33.7 trillion ($230 billion) in the first seven months of 2025, driven by regulatory reforms, tax incentives, and the licensing of yen-backed stablecoins. The Japan Virtual and Crypto Assets Exchange Association attributes this growth to supportive policies and global momentum. Nomura's entry into the market coincides with broader institutional adoption, including Daiwa Securities' recent launch of Bitcoin and Ethereum collateral loans. Analysts suggest that Japan's regulatory clarity and infrastructure upgrades are positioning it as a leading hub for digital assets in Asia.

Nomura to Launch Crypto Trading in Japan^[3] Laser Digital's expansion faces challenges, including profitability delays. Despite initial projections to break even within two years, CFO Hiroyuki Moriuchi acknowledged in July 2025 that Laser's underperformance in Europe contributed to quarterly losses for Nomura. However, the firm remains committed to Japan's market potential, with Mohideen emphasizing the importance of building a regulated presence. The approval of a broker-dealer license from Japan's Financial Services Agency (FSA) would enable Laser to offer services to banks, asset managers, and exchanges, further solidifying its role in the institutional sector.

Nomura’s Laser Digital Prepares Japan Crypto License Push^[4] The move underscores Japan's evolving financial landscape, where crypto is increasingly integrated into mainstream markets. Institutional participation has accelerated, with transaction volumes outpacing South Korea, India, and Vietnam. Regulatory reforms, including treating more tokens as investment instruments, have attracted global players. Nomura's strategy mirrors that of other Japanese firms, such as GMO, in leveraging the country's favorable policy environment. Analysts predict that Laser's stablecoin initiatives could boost retail and institutional trading activity, while Japan's aging population and demographic pressures may drive demand for alternative assets.

What Japan’s Fiscal Debt Crisis Means for Global Crypto Markets^[5] While challenges remain, including Japan's fiscal debt crisis and global macroeconomic volatility, the crypto sector's resilience has drawn attention. The 2024 August market crash, triggered by Japan's fiscal instability, highlighted crypto's sensitivity to liquidity shocks. However, Japan's crypto market has rebounded, with on-chain value received peaking at $244 billion in December 2024. Nomura's expansion reflects a broader trend of traditional finance embracing digital assets as a hedge against systemic risks. If successful, Laser's operations could catalyze further innovation, including tokenized assets and DeFi integration, positioning Japan as a pivotal player in the global crypto ecosystem.