Japanese tradfi giant Nomura plans to launch a crypto trading platform for professional traders by early 2023. The company is looking to step up its crypto operations.
Nomura recently announced the launch of a crypto-focused company named LaserDigital. This new subsidiary also operates a sub-unit named Laser Venture Capital. According to the company, the institution will back projects in the decentralized finance (DeFi), centralized finance (CeFi), Web3, and blockchain spaces.
According to CoinPost, Laser Digital hopes to have its trading service up and running by March next year.
Laser Digital said it will target institutional investors and high net worth individuals with its new platform. The company will also serve family offices and hedge funds enthusiastic about cryptocurrencies.
However, the company added that its entry into regional markets would depend on regulatory developments. In a LinkedIn post, the company’s chief operating officer, Oliver Dunn, wrote that the company plans to hire dozens of new staff “by next year.”
Dunn added that the subsidiary will be “ready in the first quarter” for “trading and systematic market-making in spot and derivatives” services. [of 2023]”
He added that a “wealth management product” was also coming soon, and that the company “originally” operated out of Zurich, Dubai and London.
Over a week ago, Laser Venture Capital announced that it had invested in the Near blockchain network-based Orderly Network DeFi project.
Nomura has also invested in UK blockchain payments company Fnality.
Japanese Tradfi Players Continue Crypto Pivot
Primarily a banking company, Nomura has been eyeing the crypto space for some time. In 2020, the company demonstrated its readiness to enter the crypto custody space.
Many other major Japanese tradfi players have already entered the crypto sector.
These include SBI, a securities and banking company that currently has a crypto exchange and coin mining division. Another notable example is Monex Group. Monex Group is a brokerage firm hoping to launch cryptocurrency exchange Coincheck on the NASDAQ exchange next year.
Meanwhile, credit card giant JCB is focusing on central bank digital currencies.
The card issuer is conducting a pilot and hopes JCB will be able to develop compatibility with the Bank of Japan’s digital yen prototype.