Nomura explores sale of crypto unit Laser Digital, report says

ADRs of Nomura Holdings Inc (NYSE:NMR) gained 2.3% on Wednesday following a report from Bloomberg that Japan’s largest brokerage is exploring a potential sale of its digital-assets arm, Laser Digital Holdings AG. The Zurich-based unit emerged as a drag on profitability last year, when sharp swings across cryptocurrency markets generated losses substantial enough to push Nomura’s wider European operations into a quarterly deficit.

Tokyo-based Nomura has initiated discussions with prospective suitors, including commodities and financial services platform Marex Group Ltd., according to people familiar with the matter. While Marex is evaluating a potential transaction, deliberations remain preliminary, and Nomura may ultimately elect to retain the subsidiary or pursue an alternative buyer.

The prospective divestment marks a notable strategic pivot for Chief Executive Officer Kentaro Okuda, who had previously championed Laser as a cornerstone of the firm’s push to capture emerging digital financial opportunities. Management has since moved to tighten internal risk controls while publicly acknowledging the considerable volatility inherent in crypto-denominated revenue streams.

Established in 2022 under the leadership of former Nomura wholesale head Steven Ashley, Laser delivers institutional trading, asset management, and venture-capital backing across the digital-asset ecosystem. The unit forms part of Nomura’s broader digital-assets portfolio, which includes security-token platform Boostry and institutional custody joint-venture Komainu.

Laser had continued to scale its institutional footprint despite broader market uncertainty, securing a Japanese cryptoasset exchange license, gaining conditional approval for a U.S. national trust-bank charter in May, and hiring a trio of derivatives traders from Galaxy Digital late last year. A takeover by Marex would align with the brokerage’s aggressive digital-asset expansion, having bolstered its institutional suite in October through the rollout of an over-the-counter rolling spot crypto offering alongside existing execution, clearing, and financing services.