coindesk.com
Laser Digital, a subsidiary of the Nomura Group, is planning to expand its crypto offering in Japan, Bloomberg reported on Friday.
The Switzerland-based unit is in pre-consultation talks with Japan's Financial Services Agency (FSA) as it prepares to apply for a crypto trading license to offer services to institutional clients, according to the report citing CEO Jez Mohideen.
"Our entry into Japan reflects our optimism in the Japanese digital-asset ecosystem," Mohideen said.
The news comes in the same week that Tokyo-based Nomura's rival Daiwa Securities has begun allowing clients to offer bitcoin BTC$120,293.95 and ether ETH$4,476.08 as collateral to borrow yen, demonstrating the convergence of digital and traditional finance (TradFi) in Japan.
Laser did not immediately respond to CoinDesk's request for comment.