Nomura Holdings is weighing a sale of Laser Digital, its Zurich-based digital-asset subsidiary, with Marex Group among the potential buyers. No final decision has been made: Nomura could pursue another buyer or retain the business. The review follows losses at Laser Digital that pushed Nomura’s European operations into the red, raising questions about the Japanese securities group’s commitment to its crypto business.
Laser Digital’s losses hit Nomura’s European operations
Nomura founded Laser Digital in 2022, during a deep downturn in crypto markets. The Zurich-based company serves institutional clients through crypto trading, asset management and on-chain credit services, and has become a key part of Nomura’s digital-asset push.
Laser Digital reported a loss last year, contributing to an overall loss for Nomura’s European business. The subsidiary’s loss amount has not been disclosed. Nor have details emerged on a potential deal’s valuation, the stake under consideration or the status of talks. It is therefore unclear whether Nomura is seeking a full exit or considering a transaction that would reshape its investment in the business.
Marex Group is among potential buyers
Marex Group is assessing a possible deal, while Nomura has also been in contact with prospective buyers. No buyer has been selected, and a sale is not certain. Nomura could continue discussions with other parties or decide to keep Laser Digital.
For a potential buyer, the business would offer an institutional platform spanning crypto trading, asset management and on-chain credit. A sale, meanwhile, could alter the scale and allocation of Nomura’s digital-asset operations. No terms or decision have been confirmed, so the review should not be treated as an agreed transaction.
Crypto-market pressure contrasts with banks’ expansion
Laser Digital’s losses came amid volatility in crypto markets, which can weigh on trading and asset-management revenue. Bitcoin was about 40% below its record high at the time, providing context for the operating environment. The available information does not specify the date of that high or quantify the effect of the decline on Laser Digital’s revenue or losses.
Traditional banks were still expanding digital-asset and custody businesses in 2026. If Nomura proceeds with a sale, that move would contrast with the broader direction of the sector, but it would not by itself establish that the group plans to leave crypto altogether. Key outstanding questions include whether Nomura confirms a sale, whether Marex submits a formal proposal and whether any deal would cover all of Laser Digital’s operations.