Laser Digital, a subsidiary of Japanese investment bank Nomura, has received a conditional approval from the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This marks the first time any subsidiary of a Japanese financial institution has obtained such authorization in the United States.
The Zurich-based company, which manages over $250 million in assets, initially filed for the federal charter in January. Once the conditional charter is fully finalized, Laser Digital will be allowed to custody and manage tokenized, digital, and traditional assets under federal supervision.
What the new US bank will do, and won’t do
A newly created entity, Laser Digital National Trust Bank, will handle US operations. According to the firm, it plans to facilitate movement between fiat money, stablecoins, and cryptocurrencies. It also intends to support cross-border payments and offer collateral management for both crypto and non-crypto transactions. Notably, Laser Digital will not offer loans or accept deposits from customers.
The final approval from the OCC still depends on meeting several outstanding conditions. These include reaching a minimum capital requirement, which the regulator sets on a case-by-case basis.
Growing list of OCC-approved crypto firms
Since December 2025, the OCC has conditionally approved at least eight crypto and fintech companies for trust bank charters. The list includes Circle, Ripple, BitGo, Paxos, Fidelity Digital Assets, Bridge (a Stripe subsidiary), Crypto.com, and now Laser Digital. According to S&P Global figures, more than 15 crypto asset companies have submitted applications for OCC charters since the start of 2025.
This wave of approvals has drawn criticism from traditional banks. The Bank Policy Institute, for instance, has accused digital asset firms of not intending to operate genuine trust companies. It warned that the OCC was blurring the definition of what it means to be a bank.
Laser Digital’s expanding global footprint
Since spinning off from Nomura in 2022, Laser Digital has steadily built a portfolio of regulatory licenses outside the US. It secured a broker-dealer approval from Abu Dhabi Global Market (ADGM) in 2023. In August 2025, it became the first company licensed in Dubai to offer over-the-counter crypto options. More recently, in October 2025, it opened a Tokyo office to target Japan’s growing institutional crypto demand.
This conditional OCC approval adds a US federal banking license to that growing list. Whether Laser Digital can clear the remaining capital requirements and receive full sign-off will determine how quickly it can begin competing with firms like Circle, Ripple, and Paxos on American soil.
