Nomura Posts Crypto Losses—But That’s Only Half the Story

Japan's largest brokerage, Nomura, announced that its crypto subsidiary, Laser Digital, incurred losses in the October-December quarter, leading the firm to reduce crypto positions and tighten risk controls. However, this financial setback is presented as only part of the narrative. Just days earlier, Laser Digital applied to the US OCC for a federally chartered national trust bank to offer custody and trading services to US institutions, signaling an acceleration in its long-term infrastructure buildout. This apparent contradiction is actually a recurring two-track strategy: one track involves proprietary trading subject to market volatility (which caused the losses), and the other involves strategic licensing and infrastructure development, which continues regardless of short-term trading results. Nomura is communicating different messages to different audiences—reassuring shareholders about risk management while assuring regulators and clients of its commitment to digital finance's future.

(Source：BeInCrypto)