Nomura is in preliminary talks to sell its crypto business Laser Digital. Bloomberg reported this on November 11. London-based Marex Group is named among possible buyers.
Nomura is Japan's largest broker. Laser Digital is its division that trades crypto for large clients. Institutional clients are funds, banks and asset managers, not retail traders.
The reason was losses. The group's European business has been loss-making for the fourth quarter in a row, and Laser Digital's trading losses contributed to that deficit.
How much did Europe lose?
The quarter ended September 30, 2026, the European division closed with a pre-tax loss.
- ¥7.4 billion (about $46.5 million) - Europe's pre-tax loss for this quarter.
- Fourth consecutive loss-making quarter - while Nomura's other regions are profitable.
- ¥103.7 billion - the entire group's net profit for the second quarter.
- ¥148 billion - the group's pre-tax profit for the same period.
The group as a whole is holding up confidently. The problem is local and sits in Europe.
Why is Nomura cutting crypto?
Laser Digital's trading losses contributed to the European deficit, Bloomberg writes. Nomura does not disclose the division's exact contribution.
- January - CFO Hiroyuki Moriuchi said the bank would reduce crypto positions to eliminate sharp swings in results.
- At the same time - he promised to develop Laser Digital over the medium and long term.
- February 2026 - the positions were indeed cut.
What is Laser Digital?
Laser Digital was founded in 2022 in Zurich. The division trades for institutions, manages assets and makes venture investments.
- Japanese crypto exchange license - obtained recently.
- Laser Digital National Trust Bank - a bank for custody of crypto assets; in May 2026 the OCC gave preliminary conditional approval, but the bank cannot yet start operations. The OCC is the US bank regulator.
What's next?
No decision has been made. Nomura may keep the division or negotiate with another buyer.
The terms of the deal are unknown. The price, structure and timeline have not been announced. Marex itself is entering this market: in October 2026 it launched an over-the-counter spot crypto product for institutional clients. An OTC deal goes directly between the parties, without an exchange.
Key point: major players are cutting crypto, while market volatility remains. If you trade coins, check the list of permitted instruments in the prop firm catalog and find a challenge for your market.
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