Financial Services Holding Company Nomura Holdings are preparing to expand in Japan’s cryptocurrency market through Switzerland -based subsidiary subsidiary, laser digital holdings.
A laser digital spokesman confirmed Friday that the unit was in pre-consultation with the Japan’s Financial Services Agency (FSA) and intends to apply for a license to offer crypto trading services to institutional investors in the country.
However, the cointelegraph spokesman told the date of application remains “unspecified,” and depending on the outcome of the FSA discussions.
If approved, Laser Digital will launch broker-dealer services for traditional financial companies and crypto-focused companies, including exchanges in Japan. Nomura is part of the Nomura Group, the largest investment bank in Japan and brokerage group.
Japanese institutions plan to invest in crypto
The move follows a broader push of institutions in the Japanese crypto market.
Earlier this week, the Daiwa Securities Group, one of Japan’s largest brokers, introduced A Crypto lending service that allows clients to borrow Japanese yen using Bitcoin (Btc) and ether (Eth) as collateral.
Laser digital and Daiwa pushed the Japanese market seemed to be a response to growing demand for crypto investments in the region.
In June, Nomura and Laser Digital released the results of a survey Exploration of institutional appetite for crypto. The survey showed 54% of investment managers – including family offices, corporations and institutional investors – expected to invest in cryptocurrencies within the next three years.
Related: Metaplanet expands the approach to Bitcoin with new US units, Japan
Japan regulator recommends the Crypto rule
Besides increasing institutional interest, Japan’s regulation in crypto also moved in a more desirable direction.
Japan looked to change crypto laws to align sector policies in traditional security markets, and also plan lower crypto tax. In August, the country’s regulators were also silent on the country’s first stablecoin Pegged to Japanese yen.
As the country’s policies moved on, the country’s crypto adoption was more than double.
On September 24, a chainalysis report showed that one of the five markets in the Asia Pacific (APAC) region, Japan saw the strongest growth. The value of the country has received onchain grew 120% year-on-year To 12 months leading to June.
The head of the policy chainalysis in APAC, Chengyi Ong, has previously told Cointelegraph that the Japanese crypto market activity reflects global trends such as the “sharp pickup in trading volume” after the US president’s election.
https://www.youtube.com/watch?v=ry9MI57PBJS
Magazine: Hong Kong is not the loophole that Chinese crypto companies think it is
