Japanese Investment Bank Nomura To Launch Bitcoin, Crypto Subsidiary

Nomura is reportedly planning to develop a crypto division to provide institutional customers with BTC and other digital asset services.

By next year, the wholly-owned unit will have a hundred employees.

Last week, Nomura began trading cryptocurrency derivatives.

Nomura, Japan's biggest investment bank, has announced the development of a new cryptocurrency, decentralized finance (DeFi), and non fungible tokens extension (NFTs).

Institutional Clients as a Target

Nomura Holdings, Inc is a major part of the Nomura Group and a Japanese financial holding corporation. Nomura is developing a new company focused on institutional client services for bitcoin and other cryptocurrencies, according to a Financial Times story.

By the end of 2012, Nomura expects to have roughly 100 individuals working for the subsidiary. While the present executives will be in charge of operating the business, insiders close to the company have stated that considerable outside recruiting is in the works.

The Japanese investment bank just started trading bitcoin derivative contracts last week. This strategic decision put the bank on par with rivals Goldman Sachs (GS) and JPMorgan (JPM), allowing customers to participate in the cryptocurrency market.

Jez Mohideen, Nomura's current Chief Digital Officer for its wholesale division, will lead the new initiative. For the time being, it is rumored that fifteen present employees would be moved to Nomura's undisclosed cryptocurrency firm.

Despite the decline in BTC, crypto companies are increasing their offerings.

The bank has accelerated crypto expansion once again after offering over-the-counter cryptocurrency derivatives with bitcoin (BTC) non-deliverable futures and non-deliverable options for customers in Asia out of Singapore.

Despite recent market turbulence and a drop in market capitalization, it seems that Nomura has continued to make progress in the area. The company has just launched its first bitcoin futures and options trading on the CME in Chicago.

The deals were reportedly done via Cumberland, DRW's cryptocurrency division.

Apart from Nomura, Goldman Sachs and JPMorgan are two more major financial institutions that have recently expanded their crypto-asset offers.