Nomura is to launch a new company to help institutional clients diversify into cryptocurrency, decentralized finance and non-fungible tokens, despite a recent run of volatility in the crypto market that has raised fundamental questions over its safety for investors. According to people with knowledge of the company’s plan, Japan’s largest investment bank will combine a number of digital asset services under a single wholly-owned subsidiary that will have a staff of about 100 by the end of 2024.
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Nomura prepares to launch crypto subsidiary
“If we don’t do this, then it’s going to be more difficult down the line to be competitive,” said one of the Nomura executives, who said that despite the questions that surround digital assets, the opportunity cost of failing to offer investment facilities to institutional clients was too high.
