Nomura Holdings subsidiary Laser Digital applies for a National Trust Banking License in the United States

Laser Digital, the digital asset arm of Japanese financial giant Nomura Holdings, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank license, attempting to relocate its crypto and fintech operations entirely back to the United States amid a more relaxed regulatory environment in Washington. Sources have confirmed the application to The Block. If approved, a federal-level trust bank license would allow Laser Digital to operate nationwide without needing to apply for state-by-state custody licenses, but would not allow it to accept retail deposits. The report states that the company is also expected to offer spot cryptocurrency trading services. This move comes amid a new wave of crypto-native companies moving ashore. As U.S. policies become more inclusive, more institutions are seeking to integrate trading, custody, and settlement operations under a federal regulatory framework. The OCC typically grants national trust bank licenses with "conditional approval," requiring applicants to meet regulatory conditions regarding capital, governance, and compliance before commencing operations. Previously, World Liberty Financial, backed by Trump, stated it was seeking a national trust bank license to support the issuance and redemption of the USD1 stablecoin under a regulated entity. In addition, Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos have also received conditional approval from the OCC and are moving towards becoming federally regulated trust banks. (The Block)