Japanese trading giant Nomura is set to launch a crypto trading platform for professional traders by early 2023 – as the company seeks to ramp up its crypto operations.
Nomura recently announced the launch of a crypto-focused company named Laser Digital. This new subsidiary also operates a sub-unit named Laser Venture Capital. This body, the company said, will support projects in the areas of decentralized finance (DeFi), centralized finance (CeFi), Web3 and blockchain.
According to CoinPost, Laser Digital hopes to have its trading services up and running by March next year.
Laser Digital said it will target institutional investors with its new platform, as well as high net worth individuals. The company will also offer its services to crypto-savvy family offices and hedge funds.
However, the company added that its entry into regional markets would depend on regulatory progress. In a LinkedIn post, the company’s chief operating officer, Oliver Dang, wrote that the company plans to hire dozens of new staff “by next year.”
Dang added that the subsidiary would have “systematic trading and market making” “cash and derivatives” services “ready in Q1. [of 2023].”
He added that an “asset management product” was also forthcoming and that the company operated “initially” from Zurich, Dubai and London.
More than a week ago, Laser Venture Capital announced that it had invested in the Orderly Network DeFi project based on the Near blockchain network.
Nomura has also invested in UK blockchain payment company Fnality.
Japanese Tradfi Players Chase Crypto Kingpin
Nomura, primarily a banking company, has had its eye on the crypto space for quite some time. In 2020, the company indicated that it was ready to move into the crypto custody space.
A number of other major Japanese commerce players have already entered the crypto sector.
These include securities and banking firm SBI, which now has crypto exchange and coin mining arms. Another notable example is the Monex Group – a securities firm that hopes to launch its crypto exchange, Coincheck, on the NASDAQ next year.
Credit card giant JCB, meanwhile, is focusing on central bank digital currencies.
The card company is running pilot projects which it hopes will allow JCB to develop compatibility with the Bank of Japan’s prototype digital yen.