Nomura is considering selling its crypto unit, Laser Digital, as its European operations post losses for a fourth consecutive quarter.
According to a Bloomberg report citing people familiar with the matter, Nomura has held talks with potential buyers for Laser Digital. Financial services company Marex Group is evaluating a deal, but Nomura has not yet made a decision and may keep the unit.
Nomura’s European operations recorded a 7.4 billion yen ($46.3 million) pretax loss in the quarter ended September 30. This marked the region’s fourth consecutive quarterly loss. The reported figures do not show to what extent Laser Digital contributed to the loss.
Laser Digital targets growth in Japan and the US
Zurich-based Laser Digital was founded in 2022. The company provides crypto trading and asset management services to institutional investors and also invests in crypto ventures.
Nomura had aimed to reduce the unit’s exposure to fluctuations in crypto prices. In January, Chief Financial Officer Hiroyuki Moriuchi spoke of plans to lower trading risk while expanding asset management and crypto custody services on behalf of clients.
Nevertheless, Laser Digital’s efforts to expand its regulated activities are continuing. The company’s Japanese subsidiary registered as a crypto asset service provider in August; initially, it is expected to provide liquidity to other crypto companies. The proposed national trust bank in the US received conditional approval in May; final authorization is required for the bank to open.
Not investment advice.