Nomura has reportedly begun exploring a sale of its crypto unit Laser Digital, holding talks with potential buyers including Marex Group.
According to people familiar with the matter, Marex is evaluating a potential deal, but the discussions are at an early stage and Nomura could still keep the business or sell it to another buyer. Neither Nomura, Laser Digital, nor Marex has confirmed the report. Switzerland-based Laser Digital was established in 2022 under former Nomura wholesale head Steven Ashley and provides institutional trading, asset management, and venture capital investment in digital assets.
Losses in Nomura’s European business
Losses at Laser Digital, caused by sharp swings in crypto markets, reportedly pushed Nomura’s European operations into a quarterly loss in 2025. Nomura’s European businesses posted a pretax loss of JPY 7.4 billion (USD 46.5 million) in the quarter ended 30 September 2026, their fourth consecutive quarterly loss, although Nomura did not disclose whether Laser Digital contributed to that result.
A sale would mark a shift for Nomura, whose management had positioned Laser as central to its digital finance strategy. The group has since tightened risk controls and acknowledged the volatility of crypto-related revenue, and in January 2026, Chief Financial Officer Hiroyuki Moriuchi said Nomura would reduce its crypto trading positions to limit short-term volatility while continuing to expand Laser Digital over the medium to long term.
Laser Digital’s institutional expansion
Laser Digital has continued to expand its institutional business. Its Japanese unit obtained a crypto asset exchange licence in Japan, and in May 2026, the company received conditional approval for a proposed US national trust bank. It also hired three derivatives traders from Galaxy Digital in late 2025.
Laser Digital forms part of Nomura’s digital assets portfolio, which also includes security token platform Boostry and institutional custody joint venture Komainu. A deal with Marex would add Laser’s business to the broker’s own digital asset offering, which in October 2026 added an over-the-counter rolling spot crypto product alongside its existing execution, clearing, and financing services.
