Crypto trading for Japanese Nomura Bank customers will be rolled out in early 2023
Japanese bank Nomura will offer institutional clients crypto trading in early 2023. The bank is one of Japan’s largest and launched a crypto unit earlier this year.
Japanese bank Nomura is reportedly set to launch crypto trading for institutional clients in early 2023. The crypto unit of Nomura, which is one of Japan’s largest banks, is working on the crypto trading facility and hopes to grow the team in the coming months. Blockworks first reported the news.
Nomura first announced the crypto trading plan in May 2022, revealing that it would create a new digital company called Laser Digital. Focused on a “comprehensive suite of trading, investor products and investment services”, the company will offer services related to crypto, DeFi, stablecoins and NFTs.
In a conversation with Blockworks, Jez Mohideen, CEO of Laser Digital, said that there was an expectation that more institutions would enter. He told the publication,
“The deep skills we’ve acquired in quant, electronic trading platform building and rigorous risk management skill sets. So that’s what we hope to bring. I think these kinds of skills are invaluable for the institutionalization of digital assets. There’s no doubt that everyone is waiting in the crypto ecosystem for institutions to come in.”
The crypto trading platform will be available to institutional clients, family offices, high net worth individuals and hedge funds actively involved in the crypto space. But the purpose is to open up the customer base later.
Laser Digital wants to lead crypto trading and institutional investment
Laser Digital got its name in September, with the office established in Switzerland. Since then, it has quickly started working on plans for the near future. The three priorities outlined by the company are secondary trading, venture capital and investor products.
As a trading platform for institutional clients, corporate members have made it clear that now is the time to enter, as it may be too difficult to compete later. It is progress for the market and representative of the change that the institutional markets are experiencing.
The Japanese crypto ecosystem is growing
Nomura also has a strong focus on web3, with plans already in place. The bank is building a team to help other companies enter the metaverse. Specifically, it’s thinking of ways to use its knowledge of investment banking to help companies raise money and navigate regulations.
Nomura is one of many banks in Japan that have made inroads into the crypto market. Sumitomo Mitsui Trust launched a new company for institutional clients earlier this year in a joint venture with Bitbank.
Meanwhile, the Japanese government is keen to leverage web3 and the metaverse to boost its economy. Prime Minister Fumio Kishida also spoke about the importance of expanding the social integration of these technologies in October.
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