PANews reported on October 3 that according to Bloomberg, Laser Digital, a cryptocurrency subsidiary of Japanese financial giant Nomura Group, is planning to apply for a crypto asset trading license in Japan to provide services to institutional clients.

Laser Digital CEO Jez Mohideen revealed that the company is currently in preliminary consultations with Japan’s Financial Services Agency (FSA). He said: “Our entry into the Japanese market reflects our optimism about the Japanese digital asset ecosystem.”

Earlier this week, Nomura rival Daiwa Securities began allowing clients to borrow Japanese yen using Bitcoin and Ethereum as collateral.