In its latest pivot amid rather turbulent market conditions, Nomura Holdings Inc., one of Japan’s most active investment banking institutions, has announced a reduction in its cryptocurrency positions and a tightening of risk controls within its digital asset operations. This move comes in response to financial setbacks experienced by its European subsidiary, Laser Digital Holdings, during the third quarter of fiscal year 2025.
As reported by Bloomberg and other outlets, the decision underscores the challenges faced by traditional financial institutions navigating the volatile crypto landscape, even as Nomura reaffirms its long-term commitment to the sector.
The announcement was made by Chief Financial Officer Hiroyuki Moriuchi during an earnings conference call on January 30, 2026, where he addressed the company’s quarterly results.
Moriuchi explained that the European arm incurred losses due to market volatility in digital assets from October to December 2025, contributing to a larger-than-anticipated decline in Nomura’s overall net income.
To mitigate short-term profit fluctuations, the firm has implemented stricter position management and reduced its holdings in virtual currencies.
Despite these adjustments, Moriuchi emphasized that Nomura’s dedication to digital assets remains unwavering, with plans to expand the business over the medium to long term.
Laser Digital, launched by Nomura in 2022 and headquartered in Zurich, Switzerland, serves as the bank’s dedicated crypto arm.
It offers a suite of services, including trading, asset management, bespoke solutions, and venture investments in early-stage projects.
The subsidiary leverages quantitative-driven strategies for liquidity provision and market making, backed by robust risk management frameworks honed from traditional finance expertise.
Licensed in the United Arab Emirates, Laser Digital provides crypto funds, over-the-counter trading, and treasury management tools, positioning itself as a bridge between conventional banking and the emerging digital economy.
This recent pullback highlights broader market pressures in the cryptocurrency space.
The digital asset sector has faced significant volatility, with price swings influenced by regulatory shifts, macroeconomic factors, and investor sentiment.
For instance, setbacks in late 2025 likely stemmed from global economic uncertainties, including interest rate fluctuations and geopolitical tensions, which amplified risk in crypto holdings.
Nomura’s experience is not isolated; several financial institutions have recalibrated their crypto strategies in response to similar market dynamics, balancing innovation with prudence.
Nomura’s actions reflect a cautious yet optimistic approach.
Just days before the earnings call, on January 27, 2026, Laser Digital filed an application with the U.S. Office of the Comptroller of the Currency for a national trust bank charter.
If approved, the proposed Laser Digital National Trust Bank would enable the firm to offer cryptocurrency custody, spot trading in crypto and fiat, and staking services under federal oversight.
This move would allow nationwide operations without the need for state-by-state approvals, enhancing efficiency and regulatory compliance.
The application signals Nomura’s intent to deepen its footprint in the US, a key market for digital assets, while avoiding retail deposits to focus on institutional clients.
Nomura’s broader financial health remains solid, with the company also unveiling a ¥60 billion share buyback program, demonstrating confidence in its core operations despite the crypto-related challenges.
As the crypto market matures, institutions like Nomura are adapting to ensure sustainable growth.
By reducing immediate risks while pursuing expansion, the bank is positioning itself to capitalize on the long-term potential of blockchain and digital assets.