Nomura-backed Laser Digital becomes Japan's first new crypto exchange registration in four years, as the country prepares for crypto ETFs and separate taxation by 2027.
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Japan's crypto market just got its first new registered exchange in four years. Laser Digital, the digital-assets arm of Nomura, secured approval as a crypto asset exchange service provider, a registration no firm had obtained since 2020.
The timing tracks a regulatory shift. A month ago, Japan reclassified cryptocurrencies as financial instruments, setting the legal groundwork for crypto ETFs and separate taxation of digital assets. Those rules take effect in 2027. The new framework, plus this approval, points to a market preparing for more institutional participation.
Laser Digital will start by offering liquidity services to domestic virtual-asset service providers. The firm also plans to expand into digital-asset trading for institutional investors, though it has not announced a launch date or full details. The expansion follows plans revealed late last year as the company positioned itself for the changing rules.
Nomura, Japan's largest investment bank, backs Laser Digital. A 2026 survey conducted by Nomura and Laser Digital found that 79% of respondents planned to invest in crypto assets within three years, a signal of rising demand for regulated exposure.
Co-founder and CEO Jez Mohideen said Japan's digital-assets market is entering a new stage, emphasizing the need for trusted counterparties and infrastructure tailored to institutional requirements. Co-founder and executive chairman Steve Ashley added that the timing reflects a broader global shift, with sophisticated investors seeking access supported by high-quality infrastructure.
Laser Digital now becomes a central player in Japan's next regulatory chapter. Its entry ends a four-year freeze on new crypto service-provider registrations, and it positions the firm to serve institutions looking for compliant access to digital-asset services.
The approval also raises the question of whether other global players will follow. Japan's clearer legal framework, with the 2027 implementation date, gives firms a defined runway to build compliant operations. Laser Digital's early move gives it a head start in a market that has been cautious but is now signaling openness.
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