Digital Assets: Nomura To Launch Digital Asset Company To Cater To Institutional Clients

May 19, 2022 | Digital Assets, News

The new company will offer a whole range of services including trading and investment services and investor products.

Nomura Holdings Inc (NYSE: NMR) announced this week its plans to launch a new digital asset company that would serve institutional clients and other investors with products and services linked to cryptocurrencies, stable coins, decentralized finance (DeFi), non-fungible tokens (NFTs) and other tokens. (Nomura)

Top drawer institutional digital asset franchise

The new entity will be structured as a stand-alone but wholly-owned company that would be manned by both specialist staff from Nomura, as well as recruitments from outside the organization.

Jez Mohideen, the unit’s newly appointed CEO, had this to say: “Establishing this new company is a critical foundation for us and key to building an end-to-end digital asset offering. The company will have top talent and business agility along with access to Nomura’s global network to build a top tier institutional digital asset franchise.”

Nomura to scale digital business

“This is a major step forward as we look to scale-up our digital asset related businesses and investments,” said Steve Ashley, Chair of the new company and Head of Wholesale Division. “The new company will enable us to build an edge in providing institutional clients with access to a wide range of new products and services and contribute meaningfully towards responsible innovation in the digital asset ecosystem.”

In March, Nomura said it would reorganize its Future Innovation Company into a newly established Digital Company, effective April 1, 2022. The Digital Company would advance Nomura’s ambitions in the digital asset space.

Established Wall Street and big financial names are setting up dedicated, institutional-facing desks in larger numbers.

In March, Cowen Inc (NASDAQ: COWN), the New York-headquartered investment banking firm launched Cowen Digital LLC, its digital asset division focussed on institutional clients. The new division offers full-service trade execution and custody solutions on a platform that provides these clients with secure and compliant access to the digital asset ecosystem.

Related Story: Bitcoin Scales New High on BNY Mellon, Mastercard News

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