Laser Digital is moving toward getting approval to offer crypto trading services in Japan.
- Laser Digital is applying for a crypto license in Japan.
- The company wants to serve institutional clients.
- This move follows similar actions by Japanese firms like Daiwa Securities.
Laser Digital Targets Japan’s Crypto Market
Laser Digital, a part of Japan’s Nomura Group, is trying to expand its crypto business in Japan. The company is based in Switzerland but is now speaking with Japan’s Financial Services Agency (FSA). These talks are part of a plan to get a license to offer crypto trading to large clients.
Focus on Institutional Investors
The plan is to allow banks, hedge funds, and other financial firms to trade cryptocurrencies through Laser Digital. These are known as institutional clients. The CEO of Laser Digital, Jez Mohideen, said they are confident in Japan’s growing interest in digital assets. He confirmed that the company is in the early stages of the licensing process.
Growing Competition in Japan
Laser Digital is not the only company looking to grow in the space. Just this week, another large Japanese company, Daiwa Securities, began letting clients use bitcoin (BTC) and ether (ETH) as collateral to borrow yen. This signals a further blending of traditional finance and crypto services in the country.
Japan’s Crypto Landscape
Japan is becoming more open to digital assets. Several companies are entering the market or expanding their current offerings. The FSA is also working to create clear rules for companies wanting to offer these services. Laser Digital’s move shows how important Japan is becoming in global crypto growth.
Source: coindesk.com
