Key Highlights
- Nomura cuts crypto risk but keeps long-term growth plans, balancing caution with opportunity in volatile markets.
- Japan tightens crypto rules, making exchanges more accountable, pushing firms like Nomura to manage risks carefully.
- While market drops and geopolitical risks loom, Nomura remains optimistic with plans to launch crypto custody and trading services in the U.S.
Nomura, Japan’s largest wealth manager, is tightening its crypto exposure after its European trading arm faced losses in the third quarter of 2025. The firm manages around ¥153 trillion in client assets and holds 15% of the domestic wealth management market.
According to Bloomberg Japan, Nomura’s Chief Financial Officer Hiroyuki Moriuchi confirmed the company “reduced its positions in cryptocurrencies” to curb short-term volatility in profits. Despite this, the firm emphasizes its long-term commitment to digital assets and plans to expand crypto operations gradually.
The risk reduction affects Nomura’s Europe-based crypto subsidiary, Laser Digital Holdings, which handles trading and custody services. “We have tightened our management of positions, as well as risk exposure,” Moriuchi said, noting that the move balances caution with growth ambitions.
Nomura launched Laser Digital in Switzerland in September 2022 to focus on cryptocurrency trading and venture capital. The arm reportedly lost around ¥10.6 billion (approximately $70–75 million) in Q3 2025.
Reducing risk amid volatility
Nomura is cutting back on crypto as markets swing wildly. Japanese companies have long been eager to invest in Bitcoin and other digital assets, but the recent turmoil in the market shows how risky it all can be.
By scaling back, Nomura is playing it safe while still keeping room to grow in the future. Besides protecting itself from big losses, the move also helps the firm follow new rules and keep client funds safer during sudden market swings.
Laser Digital has also applied for a U.S. federal banking license, which would let it provide crypto custody and trading services across the country. This shows that Nomura wants to grow carefully, expanding its reach while keeping risks in check. With the license, the firm can attract U.S. clients and still maintain strict control over its operations.
Broader market drawdown
Nomura’s decision likely follows the broader market drawdown in November-December 2025. After Bitcoin and the trading activity within crypto markets hit new highs in October, it largely remained below the mark in the last two months of the year.
At the time of publishing, Bitcoin price is trading near $76,510—down 40% from its all-time high of $126,198, marked on October 27, 2025. The total crypto market capitalization has also recently declined by nearly $1.5 trillion from its high, proving that Nomura’s decision to cut its crypto exposure turned out to be a prudent move.
Regulatory shifts in Japan
Nomura’s decision comes as Japan plans new rules for crypto. The country’s Financial Services Agency (FSA) wants to make trading safer and tighten oversight. Under the proposals, exchanges would have to use systems from approved custodians, closing loopholes.
So far, many third-party providers aren’t closely regulated. The changes will make sure exchanges stay responsible, even when they outsource key services. That’s why risk management, like Nomura’s, is becoming more important.
Also Read: Union Budget 2026: Still No Relief for India’s 90M Crypto Investors
