Nomura's Laser Digital Japan secured Japan's first new crypto exchange license in four years, targeting institutional liquidity and trading services under the Payment Services Act.
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Laser Digital Japan, the Tokyo arm of Nomura's digital assets subsidiary, has registered as a crypto exchange service provider under the Payment Services Act. The firm announced the approval August 21. It is the first new registration of its kind in Japan in roughly four years.
Rather than launching a retail platform, Laser Digital Japan will start by providing liquidity to existing domestic virtual asset service providers. The wholesale-first approach targets market depth and efficiency for institutions handling order flow, the company said. Plans to offer digital asset trading to institutional investors directly will be disclosed later, including timing and product scope.
Steve Ashley, co-founder and executive chairman of Laser Digital and chairman of Laser Digital Japan, said the registration shows the firm can meet Japan's regulatory standards while building on its operations elsewhere. Dr. Jez Mohideen, co-founder and CEO of Laser Digital, described Japan's market as entering a new phase of maturity, with institutional appetite for the asset class growing and a corresponding need for reliable counterparties. Hideaki Kudo, representative director and head of Laser Digital Japan, called the completion of the regulatory review an important step in the company's local plans.
The approval ends a multi-year pause in new exchange registrations in Japan. It arrives as the country revises stablecoin rules and institutional attitudes shift. A joint 2025 Institutional Investor Survey by Nomura and Laser Digital found 65 percent of respondents view crypto assets as a portfolio diversification opportunity; nearly 79 percent said they plan to invest within three years.
Laser Digital Japan is registered with the Director-General of the Kanto Local Finance Bureau and is a member of the Japan Virtual and Crypto Assets Exchange Association. The broader Laser Digital group, established by Nomura, handles trading, asset management, solutions, and early-stage venture investment in digital assets.
The registration brings institutional-grade infrastructure and risk controls to a market that has seen no new exchange entrants since roughly 2022.
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