Nomura is exploring a sale of its digital-assets unit Laser Digital and has held talks with potential buyers, including commodities broker Marex. The move comes as the Japanese brokerage's European business has recorded losses for four consecutive quarters.
No deal has been agreed, and it's not clear whether the discussions will lead to a transaction. Nomura declined to comment on the talks, and Marex did not respond to a request for comment.
A digital-assets bet under pressure
Laser Digital was set up by Nomura as a vehicle for crypto and digital-asset trading, and it sits within the group's European operations. That division has now posted four straight quarters in the red, a streak that puts the unit's future squarely in question.
The talks with Marex, a London-listed broker known for its commodities and futures franchise, suggest Nomura is testing appetite among firms already active in adjacent trading businesses rather than running a broad auction. Marex has expanded through acquisitions in recent years, though it's not known whether the company has made a formal offer or what price has been discussed.
Why Nomura is looking at a sale now
The four-quarter losing run in Europe gives Nomura a clear reason to reassess. Digital-asset businesses have faced a tougher funding and trading environment, and a unit that isn't contributing to profit becomes harder to justify inside a large brokerage.
Selling Laser Digital would let Nomura step back from a business it built from scratch without shutting it down outright. For a buyer, the appeal would be the technology, licenses and team already in place rather than the current earnings.
What a deal would mean for Laser Digital
Any sale would mark a retreat for Nomura from one of its more visible pushes into digital assets. The unit has been part of the group's efforts to build a presence in crypto trading and related services, and a change of ownership would leave those plans in the hands of another firm.
For Marex, a deal would add digital-asset capabilities to a business that has traditionally focused on commodities and futures. That's a different profile from Nomura's, and it's not clear how the two firms would fit together.
The talks are early, and nothing is decided
People familiar with the situation describe the discussions as preliminary. Nomura has not set a timetable for a decision, and there's no guarantee that a sale will happen. The company could also choose to keep the unit and restructure it instead.
For now, the only confirmed fact is that talks have taken place. Whether they turn into a signed agreement — and what that would mean for Laser Digital's staff and clients — is still open.
