Nomura Weighs Sale of Crypto Subsidiary Laser Digital
Summary
- Japanese brokerage Nomura is considering the sale of its cryptocurrency subsidiary Laser Digital and has held talks with potential buyers including Marex Group, according to a report.
- Laser Digital, founded in 2022, suffered substantial losses during sharp swings in the crypto market and was cited as a key reason for Nomura's ¥7.4 billion loss in its European business last quarter.
- Nomura has said it will reduce risk tied to cryptocurrency price volatility, raising the possibility of a shift in the strategy that had presented Laser Digital as a future growth driver.
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Nomura Holdings Inc. is considering a sale of its cryptocurrency subsidiary, Laser Digital, Bloomberg reported.
Bloomberg reported on November 12 that Nomura recently held talks with potential buyers, including financial services firm Marex Group, over a possible sale of Laser Digital. Marex is still evaluating whether to pursue a deal.
No final decision has been made, and Nomura could also decide to keep Laser Digital, Bloomberg said.
Laser Digital was founded in 2022 and is based in Zurich, Switzerland. The unit is considered a key factor behind Nomura's ¥7.4 billion loss in its European business last quarter. Bloomberg said the sale discussions came after Laser Digital suffered substantial losses amid sharp swings in the cryptocurrency market.
Nomura has also said it plans to reduce risk tied to cryptocurrency price volatility. Bloomberg said the situation marks a setback for Chief Executive Officer Kentaro Okuda, who highlighted Laser Digital last year as part of the firm's effort to capture future growth opportunities.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul