Nomura, one of the largest investment banks in Japan, has created a venture capital division aimed at investing in crypto and blockchain companies.
In Wednesday’s announcement, Nomura said the business, called Laser Digital, will “provide new digital asset value” for clients of Swiss holding company Laser Digital Holdings AG. The investment bank said it chose Switzerland for its “robust digital asset and blockchain regulatory regime” in addition to its potential talent pool.
“Staying at the forefront of digital innovation is a key priority for Nomura,” said Kentaro Okuda, President and CEO of Nomura Holdings.
Laser Digital’s venture capital product, Laser Venture Capital, will focus on investments including centralized finance, decentralized finance, Web3 infrastructure, and blockchain. Laser Digital said it plans to announce additional products and services “in the coming months” aimed at secondary trading and investor products.
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As of June 2022, as one of Japan’s largest banks, Nomura Holdings had $454.8 billion in gross assets under management at the current exchange rate with the historically weak yen. In May, reported that Nomura planned to launch a cryptocurrency subsidiary aimed at investing in cryptocurrencies and non-fungible tokens that would be based outside of Japan with a board of directors staffed with Japanese transplants until it could attract local talent.