Laser Digital wins Japan's first crypto exchange license in 4 years

Nomura's Laser Digital becomes Japan's first new crypto exchange entrant in four years, listing Shiba Inu among its initial tokens.

Laser Digital Japan, the Nomura-backed digital asset unit, secured Japan's first new crypto exchange registration in four years, listing Shiba Inu among its initial tokens.

"Japan's digital assets market is entering a new phase of maturity," Jez Mohideen, co-founder and CEO of Laser Digital, said. "As institutional investors increase their interest in this asset class, there remains a need for trusted counterparties and infrastructure designed specifically for their requirements."

The registration, announced Aug. 21, caps roughly 10 months of work with the Financial Services Agency since Laser Digital first flagged its Japan entry in October 2025. The firm will initially supply liquidity to domestic virtual asset service providers before expanding into institutional trading, with Shiba Inu among six launch tokens. A 2026 Nomura-Laser survey found 79 percent of respondents plan to invest in crypto within three years.

The approval lands a month after Japan reclassified crypto as financial products under the Financial Instruments and Exchange Act, laying the legal groundwork for potential crypto exchange-traded funds and separate taxation. New rules take effect in 2027, with tax provisions expected in January 2028.

Laser Digital, established by Nomura in 2022, has built operations across asset management, trading and venture investment. Outside Japan, it holds a full crypto business license in Dubai granted in 2023 and has launched Bitcoin and Ethereum-focused funds for institutional investors, including the Bitcoin Adoption Fund in 2023.

The registration positions the firm to serve an institutional wave it expects once the financial-instruments framework takes effect. Steve Ashley, co-founder and executive chairman, framed the timing as part of a broader global shift. "Sophisticated investors are increasingly looking for access and the necessary quality of infrastructure behind it," he said.

Japan's amended framework introduces insider-trading restrictions for crypto transactions and annual disclosure requirements for issuers of certain digital assets, with penalties for unregistered operators set to increase. The Japan Exchange Group has been weighing domestic spot crypto ETF listings as early as 2027, though approval of spot Bitcoin ETFs has not been confirmed.

The approval could pressure domestic competitors to raise custody and counterparty standards, and stands as a signal for other global banks weighing entry into Japan's regulated crypto market. Laser Digital has not disclosed a launch date or the full scope of its institutional trading services.

This article is for informational purposes only and does not constitute investment advice.