Japanese wealth manager Nomura to explore cryptocurrencies and NFTs with new unit

Nomura Holdings has announced that it will launch a new digital assets team to research potential opportunities in the asset class, a move that could signal growing institutional interest in cryptocurrencies and NFTs.

The wealth manager said it was restructuring its Future Innovation Company into a new Digital Company, which will begin operations in April. The main goal of the new company will be to increase the use of digital assets by customers and provide related services. Kentaro Okuda, President and CEO of Nomura Group, said:

"The new digital company will lead to deeper collaboration between internal and external stakeholders, accelerate our uptake of digital technologies and strengthen our customer service."

The wealth manager, which manages about $641 billion in assets, said it aims to increase digital adoption across all of its businesses. The new unit will reportedly explore opportunities in cryptocurrencies and NFTs, among other digital assets.

Source: stevepb, Pixabay

NFTs are becoming increasingly popular in Japan despite having some of the strictest crypto rules in the country. Japanese financial services group Nomura Holdings is the latest major player in the country to research NFTs. Last week, major Japanese e-commerce company Rakuten announced the launch of its own NFT trading platform, dubbed Rakuten NFT.

Last month, Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial conglomerate, announced that it was ending its three-year blockchain payments project to focus on stablecoins.

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