Nomura of Japan Plans to Establish a Subsidiary Dedicated to Cryptocurrency and NFT

[Photo by Reuters-Yonhap News]

[Asia Economy Reporter Park Byung-hee] Nomura Holdings, Japan's largest securities firm, is establishing a subsidiary to provide new digital financial services such as cryptocurrency, decentralized finance (DeFi), and non-fungible tokens (NFT), major foreign media reported on the 16th.

According to a Nomura official, Nomura plans to integrate its digital asset service-related business units into one unified company, which will be a wholly owned subsidiary. The number of employees in the integrated company is expected to increase to about 100 by the end of 2024. The current Nomura management will oversee the new subsidiary, but there are plans to significantly expand external personnel as well.

Nomura is known to have been discussing the establishment of a digital asset subsidiary for four years.

Nomura is expected to engage in full-scale competition with major banks that have already entered the cryptocurrency market, such as Goldman Sachs, Citigroup, and BNY Mellon.

Last week, Nomura also started trading Bitcoin futures and options on the Chicago Mercantile Exchange (CME).

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