Nomura will launch a new company to help institutional clients diversify into cryptocurrencies, DeFi and NFTs. Japan’s largest investment bank will consolidate some digital asset services into a wholly-owned subsidiary that will have about 100 employees by the end of 2023, according to people familiar with the company’s plans.
The plan is said to have been under discussion for four years. Last week, Nomura Securities successfully traded its first bitcoin futures and options on CME through Cumberland, the cryptocurrency trading arm of DRW.