On Wednesday, Japanese financial holding company and principal member of the Nomura Group, Nomura Holdings, announced the launch of a crypto-focused venture capital unit called Laser Digital Holdings. Nomura’s move follows the entry of a number of financial giants into the cryptocurrency industry this year.
Nomura introduces Laser Digital Holdings
Japanese investment banking giant Nomura Holdings is entering the world of crypto assets and in the coming months the new venture will reveal a host of “new services and product lines.” Nomura is one of the largest investment banks in Japan and one of the oldest in the country. The investment company was established 97 years ago in Osaka in 1925 as Nomura Securities.
The new Laser Digital Holdings is a Swiss-incorporated holding company that aims to establish three vertical product offerings, including secondary trading, venture capital and investor products. The new company will be led by Jez Mohideen as CEO and Steven Ashley as President of Laser Digital. Switzerland was chosen for the country’s “strong and established regulatory regime”, according to Nomura’s press release.
“Staying at the forefront of digital innovation is a key priority for Nomura,” the investment bank’s president and chief executive, Kentaro Okuda, said Wednesday. “That’s why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would create a new subsidiary focused on [on] digital assets.
Nomura’s latest offering follows the Nasdaq’s new crypto custodial venture announced on Tuesday. Additionally, ahead of the Nomura and Nasdaq announcements, Fidelity Digital Assets, Citadel Securities and Charles Schwab Corp. announced a collaborative effort with plans to launch a crypto exchange that will deal with both retail and institutional clients. The three financial firms call the exchange EDX Markets (EDXM), and former Citadel Securities executive Jamil Nazarali has been named CEO of the trading platform.
Japanese financial giant Nomura detailed on Wednesday that the first product Laser Digital plans to scrap is a venture capital (VC) unit called Laser Venture Capital. “[The new unit] will invest in companies across the digital ecosystem, with a focus on decentralized finance (defi), centralized finance (cefi), web3 and blockchain infrastructure,” Nomura’s press release concludes.
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