Nomura Holdings is exploring the sale of its crypto subsidiary Laser Digital Holdings after losses at the business pushed the Japanese brokerage’s European operations into a quarterly deficit, according to a Wednesday report from Bloomberg.
The company has held discussions with potential buyers, including Marex Group, which is evaluating a possible acquisition, Bloomberg reported, citing people familiar with the matter.
No final decision has been reached, and Nomura could sell Laser Digital to another buyer or retain the business.
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The discussions follow significant losses at Laser Digital amid volatile crypto markets, prompting Nomura’s management to tighten risk controls. The company previously acknowledged substantial fluctuations in crypto earnings after its European operations reported a quarterly loss.
Founded in 2022 and based in Zurich, Laser Digital provides institutional crypto trading, asset management and venture capital investments. The company is part of Nomura’s broader digital asset strategy, alongside tokenization platform Boostry and crypto custody provider Komainu.
Despite the losses, Laser Digital has continued expanding its institutional operations. The company recently secured a crypto exchange license in Japan and received conditional approval from the US Office of the Comptroller of the Currency in May to establish a national trust bank.
The proposed bank would provide custody and administration services for digital assets, tokenized securities and traditional financial assets, subject to final regulatory approval.
Marex has also been expanding its crypto business, offering institutional execution, clearing, financing and structured products. In October, the company introduced a rolling spot crypto product for institutional clients trading over the counter.
The potential sale comes amid a prolonged crypto market downturn. Bitcoin traded below $74,000 on Wednesday, more than 40% below its peak, while Japan’s crypto transaction volume, including margin trading, fell by more than half to ¥17.2 trillion ($108.5 billion) during the first nine months of 2026, according to industry association data.
