Japan's three major securities firms plan to enter the cryptocurrency exchange business, with Nomura Holdings expected to launch as early as this year

Deep Tide TechFlow News, February 18th, reports from DL News that Japan’s three major securities firms—Nomura Holdings, Daiwa Securities Group, and SMBC Nikko Securities—are considering entering the cryptocurrency exchange business. The combined market value of these three companies is approximately $48 billion. Among them, Nomura Holdings plans to launch related services through its Swiss crypto subsidiary Laser Digital, with crypto trading services expected to go live by the end of 2026 at the earliest.

According to Japan’s Nihon Keizai Shimbun, these securities firms are taking this step to position themselves early—anticipating that once Tokyo relaxes restrictions on cryptocurrency ETFs, there will be a large-scale institutional investment demand. The primary target clients for these companies are corporate clients.

On the regulatory front, Japan’s Financial Services Agency plans to amend the Financial Instruments and Exchange Act, aiming to reclassify Bitcoin and some large-cap tokens from the current “payment tools” to “investment products.” This move is seen as a significant signal that traditional financial institutions are fully entering the crypto market. It is reported that Nomura Holdings will apply for a Japanese business license for Laser Digital within the next few months, while SMBC Nikko has already established a decentralized finance department to explore related pathways.

It is worth noting that Japan’s current exchange license approval rules are strict, and so far only a few tech startups have been approved. Previously, SBI Holdings and Monex Group entered the market indirectly by acquiring small crypto exchanges.