Japan’s Nomura Holdings to launch new crypto-focused unit in Switzerland
Japanese investment bank Nomura Holdings is launching a new crypto unit called Laser Digital in Switzerland.
Nomura’s Head of Trading and Investments Stephen Ashley will step down from his current role to become Chairman of Laser Digital, while Nomura’s Head of Cryptocurrency Jaz Mohideen will serve as CEO of the unit.
Christopher Wilcox, former Head of Asset Management at JP Morgan, will succeed Ashley as Head of Trading and Investments at Nomura.
Seeking growth with crypto
Nomura has struggled to generate a continuous stream of income and relies primarily on traders’ oversized bets.
To turn his business around, Nomura recently embraced crypto. Commenting on the company’s current goals, Kentaro Okuda, President and CEO of Nomura Holdings, said:
“Staying at the forefront of digital transformation is a key priority for Nomura. This is the reason why I announced it to
He continued:
“We look forward to the continued growth of this new business under the leadership of Steven and Jez.”
Laser Digital has a very ambitious roadmap planned. He focuses on secondary trading, ventures, capital and investor products as his three main areas of the cryptosphere. The new branch will launch several products in the coming months, according to the announcement.
The first is Laser Venture Capital, which looks for DeFi, CeFi, Web3, and blockchain projects to invest in to build a digital ecosystem.
Nomura’s past crypto works
Nomura has been launching new crypto capabilities since the beginning of this year. However, the company’s first foray into cryptocurrencies dates back to 2020, when it launched Bitcoin (BTC) and cryptocurrency custody services for institutional investors. Dubbing the service “Komainu,” Nomura has included Bitcoin, Ethereum (ETH), and various currencies with large marker caps under this feature.
In May 2022, the company announced that it was enhancing its cryptocurrency services to meet the demands of institutional investors. It has started offering bitcoin derivatives for customers in Asia. To do this, Nomura has partnered with his CME Group to use its platform for derivatives services.
