Nomura prepares the foundation of a crypto subsidiary
Nomura prepares the foundation of a crypto subsidiary
nomura will found a new company to help institutional customers in diversification in cryptocurrency, decentralized finances and non -funneful tokens, despite the latest volatility on the cryptom market, which has raised basic questions about his security for investors.
According to people who are known to the company's plan, Japan's largest investment bank will summarize a number of services for digital assets in a single 100 % subsidiary that will employ around 100 people.
last week, nomura successful Heared its first Bitcoin-Futures on the CME CME appointed in Chicago, Cumberland crypto -arm Cumberland.
The unveiling of the plans of Nomura, which have been discussed for four years, coincides with a spectacular crash of the value of some of the most famous cryptocurrencies in the world, which triggers concern over the entire cryptomarkt.
While crypto investors like to interpret the recent volatility as a "correction", the Bitcoin price fell under $ 30,000 for the first time since last summer, and Tether-the largest stable coin-was unable to maintain its connection to the US dollar.
The new company, which is directed by the current Nomura managers, but is largely discontinued from the outside, will enable the Japanese brokerage company to compete with other large global banks that already offer institutional customers with services and products in connection with Bitcoin, Stable Coins and other digital wealth values.
nomura joins Goldman Sachs, Citigroup, Bank of New York Mellon and other global financial institutions, all of which have become active on the cryptocurrency market in recent years.
"If we do not do this, it will be more difficult to be competitive all the time," said one of the Nomura managers, who said that despite the questions related to digital assets, the opportunities for the failure to offer investments were too high in institutional customers.
Despite the risks associated with digital assets, the Nomura managers said that interest in institutional customers was strong and would continue to grow, since the market for cryptocurrencies, NFTS and other assets become attractive as a means of diversifying traditional guided portfolios.
"Any investment class that currently discounted cash flows is under enormous stress in an inflationary environment. But I think. Many managers will think about it and think about being invested in the direction of blockchain technology and blockchain options," said the Nomura Manager.
nomura is initially transferred to the new subsidiary for digital assets that have no name, but is led by Jez Mohideen, the current Chief Digital Officer for the Nomura wholesale business.
Source: Financial Times
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