Nomura Bank to Launch Institutional Crypto Trading in 2023
Introduction to Nomura's Crypto Trading Plans
Japan's leading financial institution, Nomura Bank, is set to introduce cryptocurrency trading services for institutional clients in early 2023. This strategic move highlights a growing interest among Japanese banks in the expanding Web3 space. The bank's cryptocurrency subsidiary, Laser Digital, is at the forefront of this initiative.
Laser Digital's Expansion
Laser Digital is gearing up for a significant expansion, both in workforce and product offerings. The subsidiary aims to establish a venture capital investment arm dedicated to the cryptocurrency industry. Plans are underway to develop an electronic trading platform, projected to launch by April 2023. The firm anticipates hiring approximately 50 new employees by March to support this growth.
Comprehensive Crypto Services
The services provided by Laser Digital will encompass a wide range of cryptocurrency-related products including DeFi, stablecoins, and NFTs. These services are part of a broader strategy to offer a comprehensive suite of trading and investment solutions. The platform targets institutional investors, family offices, high-net-worth individuals, and hedge funds.
Bridging the Gap in the Crypto Ecosystem
Laser Digital's CEO emphasized the importance of their expertise in quantitative analysis, electronic trading platforms, and risk management. These skills are crucial for integrating institutional investors into the digital asset ecosystem. The firm aims to bridge the gap between traditional finance and the burgeoning crypto market.
Nomura's Web3 Initiatives
Nomura's ambitions extend beyond cryptocurrency trading. The bank is actively exploring opportunities in Web3, including the metaverse. It is assembling a team to assist firms in navigating this digital frontier, focusing on wealth creation and compliance.
Broader Industry Trends
Nomura is not alone in its endeavors. MUFG, Japan's largest financial institution, and ANA Holdings are also exploring financial services within the metaverse. This trend indicates a broader industry movement towards integrating traditional finance with emerging digital platforms.
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