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Laser Digital Expands Global Presence with New Tokyo OfficeLaser Digital Asset Management, the digital asset subsidiary of Japanese financial giant Nomura, is taking significant steps in its global expansion strategy by opening a new office in Tokyo, Japan. That’s according to a statement published by the firm on Monday.Photo by Jaison Lin on UnsplashNomura executive appointmentTo lead this strategic move, Hideaki Kudo, a seasoned professional with a distinguished career at Nomura, has been appointed as the Representative Director and Head of Laser Digital’s Japanese operations.Kudo’s impressive journey within the Nomura Group began in 2007 when he joined Nomura Asset Management, where he later held the position of Senior Portfolio Manager. Over the years, he played a pivotal role in contributing to the group’s success. His expertise caught the attention of Nomura’s Digital Company, where he served as an Executive Director, responsible for shaping the group’s digital asset strategy. Kudo’s track record includes spearheading essential projects such as the development of security tokens and orchestrating Japan’s first-ever real estate security token offering.Commenting on his new role at Laser Digital, Kudo expressed his excitement, stating:“It’s exciting to join Laser as they expand operations to Japan. Since 2019, I have been managing Nomura’s advancements into the digital asset space, and I am delighted to now join the Laser team on their journey.”Earlier this year the firm strengthened its venture capital arm through the appointment of industry veteran Florent Jouanneau as a new partner.Zurich-headquartered Laser Digital, launched by Nomura last autumn, is led by Co-Founders Steven Ashley and Jez Mohideen. Ashley, a former leader of Nomura’s wholesale division, emphasized the importance of having 24/7 operational management to optimize support for their trading business.Setting their sights on Japan for expansion into the Far East, Kudo’s extensive experience at the Digital Company is expected to be invaluable for Laser Digital’s development and growth. Laser Digital uniquely combines the discipline and capabilities of global investment banking with the expertise of a crypto-native team.Broader expansion strategyLaser Digital’s expansion into Japan aligns with a broader trend of crypto companies seeking growth opportunities in Asia, as noted by Laser Digital CEO Jez Mohideen. In a recent interview, Mohideen expressed optimism about the crypto ecosystems in Japan and Hong Kong, highlighting the potential for significant growth in the region.He also emphasized the importance of regulatory clarity in Asia and the Middle East, suggesting that these factors would play a pivotal role in driving crypto adoption. In August, Laser Digital secured a crypto license from Dubai’s virtual asset regulatory authority, enabling the provision of virtual asset broker-dealer and investment services from its Dubai entity. Last month the company received in-principle approval from the Abu Dhabi Global Market (ADGM), further solidifying its presence in the Middle East.As Laser Digital continues to expand its global footprint, the appointment of Hideaki Kudo and the establishment of a new office in Tokyo mark significant milestones in the company’s journey to provide comprehensive digital asset solutions to clients worldwide. With Kudo’s leadership and Nomura’s backing, Laser Digital is attempting to position itself for further success in the burgeoning crypto industry.

Report: Asia Set to Dominate Web3 Gaming MarketA new report has revealed that Asia is poised to dominate the growing Web3 gaming market, accounting for as much as 80% of all players. The study, conducted by Japanese firm Pacific Meta and DappRadar, found that the region already accounts for 55% of the global gaming population, with 1.7 billion players.©Pexels/Lucie LizThe report identified that the role-playing genre is the most popular in Asia, with games such as Final Fantasy, Phantasy Star Online and Genshin Impact ranking highly.Legal restrictionsThe research noted that legal restrictions on gaming are prevalent across the region, with China only allowing gamers under 18 to play for one hour a day and blockchain games all but banned in South Korea. Despite these restrictions, the report argued that Nexon’s Web3 play with MapleStory Universe and Square Enix’s upcoming Web3 game Symbiogenesis are two examples of crypto games gaining traction in the East. Both games will use the Polygon blockchain, currently the most preferred network for Web3 gaming from a game studio perspective.The report also concluded that Web3 gaming is a “natural” fit for the Asian market because of the types of games to which the market is accustomed. It argues that as Web3 games become more focused on gameplay over financials, Western and Eastern audiences will come to expect similar experiences.A developing understanding of Web3 gamesTo better understand the market, Pacific Meta surveyed over 1,000 adults in Japan and found that 40% knew about blockchain games. Among those who knew about such games, nearly 57% said Web3 games “seemed interesting”, while roughly 10% said they did not seem interesting. Notably, about 33% said “neither”, suggesting they were perhaps unsure about Web3 games and hadn’t yet formed an opinion on them.When asked about the types of blockchain games they would be interested in, 773 out of the 1,030 surveyed said that they would like a game to be free-to-play, and that initial cost was an important feature to them. 538 said that they would like the game to be playable on a mobile phone. Player earnings, game quality, consoles, and famous IP scored lower on the list.Long road to mainstream adoptionThe report highlights that the nascent industry still has a ways to go before it sees mainstream adoption. Nevertheless, big brands such as Razer and FIFA are doubling down on Web3 gaming projects. With the Asian market poised to take a dominant role in Web3 gaming, developers will need to tailor their offerings to suit the preferences of the region’s gamers.The Web3 gaming market in Asia is enormous and is expected to dominate the global market, with Japan a key market for growth. Developers will need to focus on the role-playing genre and create free-to-play mobile games to appeal to gamers in the region. As the Web3 gaming market continues to grow, and blockchain technology advances, it is likely that we will see more games and platforms targeting Asian gamers in the coming years.

Despite interest expressed by a Japanese lawmaker earlier this month for Japan to establish a strategic Bitcoin reserve, the country’s prime minister has declined to offer support for the idea.Photo by Su San Lee on UnsplashInsufficient informationJapanese crypto media outlet CoinPost reported on Dec. 26 that the country’s prime minister, Shigeru Ishiba, refrained from endorsing the notion of a Japanese strategic Bitcoin reserve on the basis that he and his government lack sufficient information on the subject. With that, Ishiba feels that it’s “difficult for the government to express its views” on the matter. The Japanese prime minister was prompted to offer his views on the subject having been queried by Japanese Member of Parliament (MP), Satoshi Hamada. During a question and answer session earlier this month, Hamada cited the United States and Brazil as examples of states that are currently considering the addition of Bitcoin as a reserve asset.  The Japanese lawmaker suggested that policymakers in those countries were leaning towards the consideration of Bitcoin as a hedge against economic risks, and that on that basis, he believed that the Japanese government should give the use of Bitcoin as a national reserve asset consideration. Hamada stated: “I think Japan should follow the example of the United States and consider turning some of its foreign exchange reserves into crypto assets such as Bitcoin.” Ishiba has responded by stating that his government lacks sufficient information relative to this “movement of introducing Bitcoin reserves that the United States and other countries are proceeding with.” Additionally, the Japanese government maintains that stability and liquidity are of paramount importance when it comes to the country’s foreign exchange reserves. With those factors in mind, it believes that Bitcoin is incompatible due to its price volatility. Unsustainable debt levels Some proponents of Bitcoin suggest that it offers a way forward for countries that have developed an unsustainable level of debt. In an X post published on Dec. 27, Thomas Jeegers, chief financial officer (CFO) at Swiss Bitcoin-only app enterprise Relai, set out a case for Bitcoin on that basis. Jeegers outlined that the United States has a debt of $36 trillion, accounting for 120% of gross domestic product (GDP).  He describes the Japanese scenario as being considerably worse, where the country’s debt accounts for 200% of GDP. Jeegers forecasts that the trajectory is unsustainable, with debt having grown “far beyond manageable levels.” The Relai CFO warns that the financial world is at breaking point and “it’s not a matter of 'if' but 'when' the system buckles under its own weight.” Earlier this month, investment manager VanEck published a report claiming that a strategic Bitcoin reserve could facilitate the U.S. in reducing its national debt by up to 36% by 2050. Like Japan, Russia has also decided against a strategic Bitcoin reserve. Although Finance Minister Anton Siluanov pointed towards Bitcoin’s unit price volatility being an issue, he is open to reassessing the matter in the future.