Laser Digital Seeks Banking Charter
In a notable move within the digital asset landscape, Laser Digital, a subsidiary of Nomura Group—Japan’s largest investment banking establishment—has formally requested a banking charter from the U.S. Treasury Department. This branch is headquartered in Switzerland and aims to establish Laser Digital National Trust Bank, which will primarily cater to the growing digital asset market with services such as custody and spot trading.
Chairman’s Insights on Digital Asset Markets
The announcement was made on Tuesday evening, and Laser Digital’s chairman, Steve Ashley, who is also slated to chair the new bank, emphasized the evolving nature of institutional digital asset markets. According to Ashley, these markets are transitioning into a more structured phase characterized by regulatory considerations and operational longevity.
“The U.S. stands as the leading financial marketplace on a global scale, and we are convinced that the forthcoming developments in digital finance will be shaped by entities that are set to thrive under rigorous oversight and enduring presence,” Ashley remarked in a statement.
Context of the Charter Application
Laser Digital’s charter application comes amidst a wave of similar requests from various crypto companies harnessing the U.S. Treasury’s increasingly favorable outlook on banking regulations for the digital asset sector. Recently, several prominent stablecoin providers such as Circle, Ripple, BitGo, and Paxos have successfully secured national trust banking charters from the Office of the Comptroller of the Currency (OCC).
Additionally, an intriguing banking venture inspired by “Lord of the Rings”, backed by Peter Thiel and co-founders from Palantir, has also gained approval for a charter. Leading crypto firms like Coinbase, Sony, and Stripe are also in the running for these lucrative banking designations, emphasizing the growing appeal following the enactment of the GENIUS Act, which promotes stablecoin development and was signed into law by President Trump last summer.
Notably, the Trump family has also entered the crypto space with their platform, World Liberty Financial, which submitted a charter application earlier this month.
