Nomura Breaks Ground in Japan's Crypto Market

Nomura has won a coveted new license in Japan to operate as a Crypto Asset Exchange Service Provider, marking a significant breakthrough for institutional trading in the country. Laser Digital Japan, a subsidiary of Nomura, completed registration under Japan's Payment Services Act and joined the Japan Virtual and Crypto Assets Exchange Association.

The license will allow Laser Digital to supply liquidity to Japan's licensed crypto firms, enabling them to clear larger orders without thinning their order books. This is a key step towards institutional trading for professional Japanese investors, although no launch date has been set for this aspect of the business.

According to Steve Ashley, co-founder and executive chairman of Laser Digital, the approval reflects growing demand from professional investors for regulated infrastructure.

Japan's regulatory environment has long been seen as a challenge for crypto operators. The country's guardrails remain unforgiving, with requirements that client assets be kept separate from company funds, at least 95% of customer crypto held in offline cold storage, and annual audits to verify these controls.