Nomura Holdings, one of Japan’s largest asset managers, is launching a new digital assets unit that will cover cryptocurrencies and NFTs, according to a press release published on their website.
Leveraging Growing Adoption of Digital Assets
Nomura is reorganizing its Future Innovation Company into a newly established Digital Company in the near future. The primary goal of this new unit is to accelerate adoption of digital assets and provide clients with appropriate, high-quality services.
NFTs, cryptocurrencies, security tokens and other digital assets are emerging as an increasingly important asset class. New services are being created at the intersection of distributed ledger technology and traditional finance, and Nomura’s move aims to capitalize on those developments.
Kentaro Okuda, President and Group CEO of Nomura, said:
“This is an important next step in our digital evolution. Digital technology is a central element of our strategy to expand activities in private markets. The new digital company will deepen collaboration among internal and external stakeholders, accelerate the deployment of digital technologies and improve the quality of our client services.”
Nomura Enters the Cryptocurrency Market
The firm manages roughly 74 trillion yen in assets, equivalent to about $641 billion. Nomura plans to promote adoption of digital technologies across its group companies and expand related services for clients. This announcement follows other industry moves in Japan, such as the recent launch of an NFT marketplace by Rakuten.
Bloomberg data indicates the size of Japan’s cryptocurrency industry is around $1 trillion. Meanwhile, the country’s largest bank, MUFG, launched a stablecoin platform earlier this year, signaling growing institutional interest in digital currencies.
Hope for Japan Despite Strict Regulations
Japan faces some of the world’s strictest cryptocurrency regulations. Cryptocurrency exchanges can encounter significant challenges in securing licenses, even as the government acknowledges digital assets’ importance. Despite regulatory hurdles, corporations have continued adopting crypto solutions over the past year.
Major companies have begun integrating cryptocurrencies into their operations: Tesla accepts Dogecoin at certain Supercharger locations and sells merchandise for DOGE, and eBay has announced it may start accepting crypto payments soon while also enabling NFT trading. Such moves reflect broader commercial experimentation with digital asset use cases.
Ukraine Accepts Cryptocurrencies
Following the Russian invasion, Ukraine began accepting cryptocurrency donations, becoming the first country to do so at that scale. After the national bank restricted certain electronic cash transfers, many Ukrainians turned to stablecoins such as Tether for remittances and to preserve access to digital value.