Japanese investment bank Nomura has announced plans to establish a new digital asset company, joining the ongoing digital assets wave in the industry.
Set to launch later this year, the new company will operate as a wholly-owned segregated entity of Nomura.
It will offer a range of products and services linked to cryptocurrencies, stable coins, decentralised finance (DeFi), non-fungible tokens (NFTs) and other tokens to institutional clients and other investors.
Nomura head of Wholesale Division and chairman of the new company Steve Ashley said: “This is a major step forward as we look to scale-up our digital asset related businesses and investments.
“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.”
Nomura plans to relocate some of its specialist staff to the new company in addition to external hires.
The firm said that the new firm will have “dedicated capital and resources to accelerate time-to-market and ensure the pace of innovation required in the digital asset ecosystem”.
Last month, Nomura established Digital Company by revamping its Future Innovation Company in a bid to grow its presence in the digital asset space.
Nomura head of Digital Company Hajime Ikeda commented: “Staying at the forefront of digital innovation is a key priority for Nomura. Digital assets and the ecosystem around them represent a generational shift in how financial assets can be created and used.”
Goldman Sachs, Citigroup, and BNY Mellon are among the other global financial institutions that are pushing to widen their presence in the digital asset space.
Last year, BNY Mellon established an enterprise Digital Assets unit to accelerate the development of enterprise solutions to serve the digital asset space.