Nomura Launching Crypto Trading Platform

Akihabara News (Tokyo) — Tokyo-based investment bank Nomura Holdings is planning to launch its own cryptocurrency trading platform in the coming months, even as the industry as a whole is reeling under the spectacular collapse of FTX Trading.

Nomura announced in September that it was establishing a digital assets subsidiary called Laser Digital with its headquarters in Switzerland.

Nomura President and Group CEO Kentaro Okuda explained that “staying at the forefront of digital innovation is a key priority for Nomura… We look forward to sustainable growth in this new business.”

The number of employees at Laser Digital is expected to exceed fifty people early in the new year.

While it could be argued that the FTX Trading scandal is a major reputational blow for the entire cryptocurrency industry, Laser Digital Chief Executive Officer Jez Mohideen tried to put a positive spin on the development in a recent interview with Bloomberg. He declared that “the latest events in the crypto market will provide an opportunity for us as it will drive institutional investors to digital asset firms backed by traditional finance houses.”

He added that he expected the company to become profitable within two years.

The company will have three parts to its business: cryptocurrency trading, asset management, and a venture capital fund.

Laser Digital’s trading platform, which will cater mainly to institutional clients, hedge funds, and the wealthy, is expected to be operational by the end of March.

Aside from its headquarters in Switzerland, the firm also has offices in Dubai and London. In the next stage it is expected to roll out its services in Tokyo as well.

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