Japan Approves First New Crypto Exchange Since 2022
Laser Digital Japan has become the first new firm to receive crypto asset exchange registration in Japan in four years. The Nomura-backed company received approval to operate as a Crypto Asset Exchange Service Provider under Japan's Payment Services Act.
The company will initially provide liquidity services to domestic virtual asset service providers before expanding into institutional trading. This comes at a time when Japanese institutional investors show growing interest in digital assets as a portfolio diversification tool, with 65% of respondents viewing crypto as an opportunity for diversification and nearly 79% planning to invest within three years.
The regulatory approval marks a major milestone for the company, which has undergone a rigorous review process. According to Steve Ashley, Co-founder and Executive Chairman of Laser Digital, 'As institutional appetite for digital assets grows across global markets, sophisticated investors are increasingly looking for access and the necessary quality of infrastructure behind it.'