Japanese Tradfi Giant Nomura’s Crypto Arm to Launch Coin Trading Platform

Japanese trading giant Nomura is set to launch crypto trading platform for professional traders in early 2023 – as the firm looks to ramp up its crypto business.

Nomura recently announced the launch of a crypto-focused firm called Laser Digital. This new subsidiary also operates a sub-unit called Laser Venture Capital. This body, the company said, will support projects in decentralized finance (DeFi), centralized finance (CeFi), Web3 and blockchain space.

Per CoinPost, Laser Digital hopes to have its trading services up and running by March next year.

Laser Digital said it would target institutional investors with its new platform, as well as high-net-worth individuals. The firm will also offer its services to crypto-enthusiastic family offices and hedge funds.

However, the company added that the transition to regional markets will depend on regulatory progress. In a LinkedIn post, the company’s Chief Operating Officer Oliver Dang wrote that the company plans to hire tens of new employees “within the next year”.

Dang added that the subsidiary would have “trading and systematic market making” services “in spot and derivatives” “ready in 1Q [of 2023].”

He added that an “asset management product” was also on the way, and that the firm “initially” operated from 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 British blockchain payments firm Fnality.

Japanese Tradfi players continue crypto pivot

Nomura, primarily a banking firm, has had its eye on the crypto space for some time. In 2020, the company indicated that it was ready to move into the crypto depository.

A number of other major Japanese tradefi players have already moved into the crypto sector.

These include securities and banking firm SBI, which now has crypto exchange and coin mining arms. Another notable example is Monex Group – a securities firm that hopes to launch its crypto exchange, Coincheck, on the NASDAQ exchange next year.

Credit card giant JCB, meanwhile, is focusing on central banks’ digital currencies.

The card-issuing company is running pilots that it hopes will allow JCB to develop compatibility with the Bank of Japan’s digital yen prototype.