Nomura Scales Back Crypto Exposure to Address Short-Term Market Volatility
(Source: Nomura)
Bloomberg Japan reports that Nomura CFO Hiroyuki Moriuchi disclosed undisclosed losses at the firm’s European crypto arm, Laser Digital, in the third quarter. In response, Nomura has reassessed its overall portfolio and reduced its allocation to crypto-related assets. Moriuchi clarified that this move is designed to mitigate risks from short-term earnings volatility, rather than signaling a full withdrawal from the crypto market.
Risk Management Shifts at Japan’s Largest Asset Manager
Nomura oversees roughly $153 trillion in client assets, representing around 15% of Japan’s wealth management market—making it a key player in the country’s financial system. Moriuchi emphasized that Nomura has enhanced its position management and risk exposure controls to keep overall financial performance stable in highly volatile market conditions.
Long-Term Confidence in Crypto Remains Strong
Despite a more conservative short-term approach, Nomura reaffirmed its commitment to digital asset operations. Management sees continued medium- and long-term growth potential for crypto and blockchain-based financial services, and plans to expand these businesses gradually under regulatory compliance. This stance reflects the enduring strategy of major Japanese financial institutions: even amid sharp market swings, they remain committed to strategic investments in emerging fintech.
Laser Digital Applies for US Banking License
Laser Digital has filed an application with US regulators for a National Trust Bank license. If approved, the company will be authorized to offer crypto asset custody and spot trading services nationwide. According to the Financial Times, Nomura aims to use this step to formally integrate its crypto business into the mainstream US financial system, directly serving both American enterprises and individual investors.
Background of Laser Digital’s Establishment
Laser Digital was launched in September 2022, with its headquarters in Switzerland. It serves as Nomura’s dedicated global platform for digital asset and crypto investment, with business lines including:
- Cryptocurrency trading
- Digital asset investment
- Blockchain venture and infrastructure investment
Nomura indicated at the end of 2022 that Laser Digital was expected to reach profitability by 2024.
Japanese Financial Institutions’ Collective Stance on Crypto
In recent years, several major Japanese financial institutions—including Nomura—have publicly announced plans to launch crypto funds or related investment products, signaling widespread openness toward crypto assets in Japan’s financial sector. As crypto market prices have seen sharp corrections, even the most aggressive institutions have started to focus more on risk management and capital allocation efficiency.
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Conclusion
Nomura’s latest adjustment to its crypto asset positions exemplifies how major financial institutions typically shift strategy in turbulent markets—curbing risk in the short term while maintaining long-term direction. As Laser Digital pursues a US banking license, Nomura’s crypto strategy is transitioning from an exploratory investment phase to a more institutionalized and compliant role in financial infrastructure.
