Nomura said in a press release that it was already setting up a new Digital Company that would start its operations in April 2022, as part of its restructuring process. In a move that might indicate that there is growing institutional interest in cryptos and nonfungible tokens (NFTs), Nomura Holdings has said that it is establishing a new digital assets team to determine the existing opportunities in the asset class.
The wealth management firm said that it was restructuring its Future Innovation Company into a fresh Digital Company that will start operations in April. In that context, the primary objective of the new firm will be to boost clients’ use of digital assets and offer related services.
Kentaro Okuda, Nomura Group President and CEO, stated:
“The new Digital Company will lead deeper collaboration among internal and external stakeholders, accelerate our uptake of digital technologies, and enhance our client services.”
The wealth manager that has around $641 billion in assets under management, said that it wants to increase the digital adoption across all of its operations. Interestingly, the new division will allegedly explore opportunities in cryptos and NFTs, among the other digital assets.
Nonfungible tokens are now becoming majorly popular in Japan, despite having some of the more strict crypto rules. Nomura Holdings is the latest massive player to consider investing in NFTs in the Asian economic powerhouse. In the past week, major Japanese e-commerce company Rakuten confirmed the launch of its NFT trading platform dubbed Rakuten NFT.
In February, Japan’s biggest financial conglomerate Mitsubishi UFJ Financial Group (MUFG), said that it would shut down its 3-year-old blockchain payment project to focus on stablecoins.