Nomura weighs Laser Digital sale as European losses hit four straight quarters

Japanese brokerage giant Nomura Holdings is weighing a sale of its crypto unit Laser Digital after losses weighed on its European operations.

Nomura has held talks with potential buyers, including financial services firm Marex Group, which is assessing a possible deal, Bloomberg reported citing people familiar with the matter. No decision has been made, and Nomura could retain the business, the report notes.

The potential sale comes as Nomura's European operations recorded a pre-tax loss of 7.4 billion yen ($46.3 million) in the quarter ended Sept. 30, marking their fourth straight quarterly loss. The regional figures do not show how much Laser Digital contributed.

Zurich-based Laser Digital, which was founded in 2022, provides crypto trading and asset management services to institutional investors, and invests in crypto startups.

Nomura had sought to curb the unit's exposure to crypto price swings. Chief Financial Officer Hiroyuki Moriuchi said in January the firm planned to cut trading risk while expanding asset management and custody services, which involve holding crypto on behalf of clients.

Despite the losses, Laser Digital has pushed ahead with plans to expand its regulated operations.

Its Japanese subsidiary registered as a crypto asset exchange service provider in August, initially to supply liquidity to other crypto firms. In May, U.S. regulators granted preliminary conditional approval for a proposed national trust bank, though it still needs final authorization before opening.

Neither Nomura nor Marex immediately responded to CoinDesk’s request for comment.