Nomura-backed Laser Digital Japan has secured registration as a crypto-asset exchange-service provider, becoming the first firm to receive such approval from Japan’s Financial Services Agency (FSA) since 2022.

Laser Digital Japan Co., Ltd., the Japanese entity of Nomura’s digital assets subsidiary Laser Digital, announced on August 21, 2026, that it completed registration under Japan’s Payment Services Act. The company is listed with the Director-General of the Kanto Local Finance Bureau under Registration No. 00032 and has joined the Japan Virtual and Crypto Assets Exchange Association (JVCEA).

The approval ends a roughly four-year pause in new registrations. Japan’s last comparable license was granted in 2022. The long gap reflects the FSA’s stringent post-hack regulatory approach, which prioritizes cybersecurity, asset segregation, and risk management following earlier industry incidents.

Laser Digital Japan will initially focus on supplying wholesale liquidity to existing domestic virtual asset service providers (VASPs). This is intended to deepen market liquidity and support smoother execution of larger orders. The firm plans to expand later into digital-asset trading services for institutional investors, though it has not yet announced a launch timeline or full service details.

The registration covers Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), and Shiba Inu (SHIB)—assets on the JVCEA’s green list that registered providers can offer without individual FSA token approvals.

The timing aligns with broader regulatory shifts in Japan. In July 2026, legislation moved cryptocurrencies toward treatment as financial instruments under a framework closer to securities regulation, with implementing rules expected in 2027. This reclassification aims to strengthen investor protections while improving market infrastructure and potentially easing tax treatment for certain gains.

Institutional interest in Japan appears to be rising. A 2026 joint survey by Nomura and Laser Digital found that 65% of responding Japanese institutional investors view crypto assets as a portfolio diversification tool, with nearly 79% of those respondents saying they plan to allocate capital to the asset class over the next three years.

Steve Ashley, Co-founder and Executive Chairman of Laser Digital and Chairman of Laser Digital Japan, said the registration reflects the firm’s ability to meet Japan’s regulatory requirements and its commitment to serving the market with high standards of service and infrastructure.

The development marks a measured reopening of Japan’s tightly controlled digital-asset sector to well-capitalized, compliance-focused entrants backed by traditional finance. By starting with liquidity provision rather than a retail platform, Laser Digital Japan is positioned to support existing market participants while preparing for greater institutional participation under the evolving rules.