To establish a foothold in the rapidly expanding sector of digital assets, Nomura Holdings will incorporate a company that will develop and deliver services associated with cryptocurrencies and NFT. The primary objective of this move is to diversify the company’s revenue streams.
The new firm, which is anticipated to begin operations this year, will be headquartered outside of Japan to recruit experts in cutting-edge technology. There will be multiple Nomura workers representing the company on the board of directors.
When cryptocurrencies are going through a period of volatility due to a lack of investor trust, the largest Japanese financial services organisation has decided to take this action.
By developing investment products that make use of blockchain technology, for instance, the Nomura group intends to provide institutional investors with opportunities to trade digital assets.
Nomura launched the Future Innovation Company in 2019 to design, develop, and test revolutionary digital services. In April, the Digital Company was formed after the unit, which was more akin to a laboratory, was reorganised. This most recent action is a part of the group’s efforts to develop this business into a lucrative one by bringing additional employees and organisations under the umbrella of the Digital Company.
According to Jefferies, the market capitalisation of NFTs would reach just over $80 billion in 2025, more than doubling from the level in 2022.