🪙 Japan's Nomura weighs selling its crypto arm
Nomura is reportedly in talks about selling Laser Digital, its Swiss-based crypto business, as its European operations keep losing money.
⚠️ This is news, not financial or investment advice.
The mystery
Only three months ago, Nomura's crypto unit won Japan's first new crypto exchange licence in four years. So why would the bank now think about selling it?
The answer
According to Bloomberg, Nomura has held talks with possible buyers, including Marex Group, but has not decided and could still keep the unit. The news follows a fourth losing quarter in a row for Nomura's European business, which lost 7.4 billion yen (about $46.5 million) before tax in the July to September quarter, while every other region made a profit. Laser Digital, founded in 2022, offers crypto trading, asset management and venture investing for institutions, and has been expanding into the United States.
Now think about this
When big banks step back from crypto, is it a warning sign for the market, or just an ordinary business decision?