TLDR
- Laser Digital, a subsidiary of Nomura Group, has applied for a U.S. national trust bank charter.
- The proposed bank will focus on offering digital asset custody and spot trading services.
- Nomura’s move reflects a growing trend of traditional financial institutions entering the digital asset market.
- Laser Digital’s chairman, Steve Ashley, emphasized the importance of operating under regulatory scrutiny in the U.S.
- The application comes as other crypto firms, including Circle and Ripple, have sought U.S. banking charters.
Laser Digital, a cryptocurrency-focused subsidiary of Japan’s Nomura Group, has applied for a U.S. banking charter. The application, filed with the U.S. Office of the Comptroller of the Currency (OCC), seeks approval for a national trust bank. If granted, the new entity, Laser Digital National Trust Bank, would offer custody and spot trading services for digital assets.
Laser Digital’s Bank Charter Application
Laser Digital, based in Switzerland and owned by Nomura Group, submitted its application for a national trust bank on Tuesday. The proposed institution will focus primarily on digital assets. Laser Digital plans to offer custody and spot trading services to institutional clients.
In a statement, Steve Ashley, chairman of Laser Digital, emphasized the importance of operating within a regulated environment.
“The U.S. is the most important financial market globally, and we believe the next chapter of digital finance will be written by firms that are prepared to operate at that level of scrutiny and permanence,” Ashley said.
The move comes as the U.S. Treasury Department has been more permissive with crypto firm banking charter applications.
Nomura Group Strategy in Digital Assets
Nomura Group’s expansion into digital assets through Laser Digital is part of its broader strategy to tap into the growing market for cryptocurrency services. Laser Digital’s banking charter application reflects the Nomura Group’s commitment to building a robust infrastructure for digital asset transactions. The group has long been a leader in financial services, and its entry into the digital asset space signals a focus on scaling its offerings within this emerging sector.
Nomura’s decision to apply for a U.S. banking charter aligns with the increasing interest from crypto companies in securing national trust bank charters. Stablecoin issuers and other firms in the digital asset space, including Circle, Paxos, and Ripple, have also sought such charters. This reflects the broader trend of traditional financial institutions looking to integrate digital assets into their services.
Laser Digital is part of a growing list of cryptocurrency firms seeking U.S. banking charters. Recently, several major companies, including Coinbase and Sony, have applied for national trust bank status. These applications are largely motivated by the U.S. Treasury’s changing stance on crypto regulation.
As the digital asset market matures, companies are focusing on establishing a more stable, regulated environment for their operations. The OCC has granted banking charters to other digital asset firms, signaling a shift toward greater legitimacy within the financial system.
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