Shiba Inu & XRP Enter Japan's New Crypto Infrastructure

Nomura's Digital Asset Arm Breaks a Four-Year Licensing Gap

Laser Digital Japan, the Japanese subsidiary of Nomura's digital assets arm, has completed its registration as a Crypto Asset Exchange Service Provider under Japan's Payment Services Act. The approval is the first new registration of its kind in Japan in about four years, following a gap since 2022. The last platform to clear the same bar was Binance Japan in October 2022.

The listed tokens on the new registration are Bitcoin ($BTC), Ethereum ($ETH), XRP ($XRP), Bitcoin Cash ($BCH), Litecoin ($LTC), and Shiba Inu ($SHIB), all of which are on the Japan Virtual and Crypto Assets Exchange Association (JVCEA) Green List, the roster of pre-approved assets that registered exchanges can list without seeking individual FSA approval on each token.

Laser Digital began its regulatory journey in Japan in October 2025, when it first announced plans to apply for a crypto license in the country. The approval marks the culmination of roughly ten months of work with Japanese regulators and arrives just as the market enters a period of structural change.

Liquidity First, Institutional Trading to Follow

Rather than launching a broad consumer platform immediately, the firm plans to begin by supporting liquidity for existing domestic virtual asset service providers. This wholesale-oriented approach aims to improve market depth and efficiency for local operators handling institutional and other order flow. It plans to expand into digital-asset trading opportunities for institutional investors, though a launch date and the full scope of those services have not been announced.

The timing is deliberate. Japan recently reclassified cryptocurrencies as financial instruments, paving the way for potential crypto ETFs and new tax treatment from 2027, as institutional demand for digital assets continues to grow. A 2026 Institutional Investor Survey published jointly by Nomura and Laser Digital found that 65% of respondents view crypto assets as a portfolio diversification tool, while 79% said they intend to invest within the next three years.

Nomura spun off Laser Digital in 2022, and the Zurich-based company has since accumulated regulatory approvals across multiple jurisdictions. It was the first firm licensed to offer over-the-counter crypto options in Abu Dhabi and Dubai in August 2025, and in May 2026 it received conditional approval from the US Office of the Comptroller of the Currency for a national trust bank charter, a first for a subsidiary of a Japanese financial institution.

Laser Digital Japan is registered with the Director-General of the Kanto Local Finance Bureau and is a member of the Japan Virtual and Crypto Assets Exchange Association, the industry's certified self-regulatory body.

Sources:
Nomura Holdings: Laser Digital Japan Receives Regulatory Approval
Laser Digital Official Announcement
CoinDesk: Nomura-backed Laser Digital Wins Japan's First Crypto Approval in Four Years