Laser Digital, a subsidiary of the Nomura Group, is planning to expand its crypto offering in Japan, Bloomberg reported on Friday.
The Switzerland-based unit is in pre-consultation talks with Japan’s Financial Services Agency (FSA) as it prepares to apply for a crypto trading license to offer services to institutional clients, according to the report citing CEO Jez Mohideen.
“Our entry into Japan reflects our optimism in the Japanese digital-asset ecosystem,” Mohideen said.
The news comes in the same week that Tokyo-based Nomura’s rival Daiwa Securities has begun allowing clients to offer bitcoin and ether as collateral to borrow yen, demonstrating the convergence of digital and traditional finance (TradFi) in Japan.
Laser did not immediately respond to CoinDesk’s request for comment.
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