Nomura Laser Digital applies for US trust bank license, accelerating the crypto "landing wave"

Nomura Holdings’ digital asset division Laser Digital has officially applied for a National Trust Bank charter with the Office of the Comptroller of the Currency (OCC). This move not only marks an important step for Nomura’s strategic presence in the U.S. crypto market but also reflects a new trend across the industry amid changing policy environments. As more traditional financial institutions and crypto-native companies seek compliant operations under a federal regulatory framework, the “onboarding wave” in the crypto industry is accelerating.

What Does a National Trust Bank Charter Mean

Core Value of the Charter

The National Trust Bank charter applied for by Laser Digital is a federal-level regulatory qualification. If approved, this license will bring several key advantages:

• No need to apply for state-by-state custody licenses; can operate nationwide
• Permission to offer crypto asset custody and related fintech services
• Expected to also provide spot cryptocurrency trading services
• Operate under a federal regulatory framework, enhancing institutional credibility

It is worth noting that while this license does not involve retail deposit-taking, it is sufficient to support a comprehensive institutional-grade crypto asset service ecosystem.

Likelihood of Approval

According to the latest news, the OCC typically grants “conditional approval” for national trust bank license applications, meaning applicants must meet regulatory requirements related to capital, governance, and compliance before commencing full operations. For institutions like Laser Digital backed by a financial giant like Nomura, meeting capital and governance conditions is relatively straightforward; the key lies in fine-tuning compliance details.

Industry “Onboarding Wave” Overview

Intensified Competition

Laser Digital’s application is not an isolated event. Currently, several institutions are applying for or have received conditional approval from the OCC:

This list includes both traditional financial institutions and crypto-native companies, reflecting a consensus in the industry: operating under the U.S. federal regulatory framework is the future direction.

Policy Environment Shift

The fundamental driver of this “onboarding wave” is the transformation of the U.S. regulatory environment. Washington’s policies are becoming more accommodating, and agencies like the OCC are adjusting their attitudes toward crypto financial services. This creates unprecedented opportunities for institutions like Laser Digital — no longer operating in gray areas, but under clear federal regulation.

Significance for Nomura and the Industry

Nomura’s Strategic Shift

From Laser Digital’s move, it is evident that Nomura is changing its approach to crypto operations. Previously, Laser Digital focused on Europe and Asia-Pacific; now, it is fully relocating to operate within the U.S. market, highlighting the increasing importance of the U.S. market. This also reflects traditional financial institutions’ optimism about the U.S. crypto market — after all, the U.S. is the world’s largest capital market and the most mature crypto market.

Personal Perspective

This trend is positive for the entire crypto industry. When global financial giants like Nomura officially enter the U.S. crypto market, it accelerates the process of industry compliance and institutionalization. This will not only attract more traditional capital but also elevate industry standards. However, it is also important to recognize that this “onboarding” may bring stricter regulatory requirements, which could impact smaller crypto projects and exchanges.

Summary

Laser Digital’s application for a National Trust Bank license is a significant signal for the development of the crypto industry. It not only represents Nomura’s formal entry into the U.S. crypto market but also reflects the industry’s shift from gray areas toward compliant operations. With companies like Circle, Ripple, and BitGo already holding or soon to obtain similar licenses, the “onboarding wave” in crypto financial services is irreversible. The changing U.S. regulatory environment provides opportunities for this trend, and in the coming year, more traditional financial institutions and crypto-native companies are expected to join. For investors and industry practitioners, this means increased compliance and stability, but also a reshaping of the competitive landscape.