Nomura weighs Laser Digital sale as European losses hit four straight quarters
Japanese financial giant Nomura Holdings is exploring a sale of its crypto unit Laser Digital as European operations recorded their fourth consecutive quarterly loss.
The potential sale follows a challenging period for Nomura's European operations, which posted a pre-tax loss of 7.4 billion yen ($46.3 million) in the quarter ended Sept. 30. This marks the fourth consecutive quarterly loss for the region, though the specific contribution from Laser Digital remains undisclosed.
Zurich-based Laser Digital, founded in 2022, provides crypto trading and asset management services to institutional investors while also investing in crypto startups. Despite the parent company's struggles, the unit has continued to expand its regulated operations globally.
Expansion continues
Laser Digital has pursued growth despite the financial pressures. In August, its Japanese subsidiary registered as a crypto asset exchange service provider, initially focusing on supplying liquidity to other crypto firms. The following May, U.S. regulators granted preliminary conditional approval for a proposed national trust bank, though final authorization is still required before operations can begin.
Future uncertain
Nomura had previously sought to reduce the crypto unit's exposure to volatile price swings. The company has not made a final decision on the sale and could potentially retain the business. Neither Nomura nor Marex has responded to requests for comment regarding the potential transaction.
Related
