Japanese Nomura embraces digital assets in Switzerland after months of experimentation

Nomura, a Japanese investment bank, has open a new branch with a particular focus on investments in digital assets. The new branch has been named Laser Digital and will operate as a subsidiary of its parent company, Laser Digital Holdings AG.

According to a press release, Laser Digital was incorporated in Switzerland and will “bring digital asset value” to customers. The statement revealed that Steven Ashley will serve as the company’s chairman while Jez Mohideen will serve as its chief executive officer (CEO).

“Staying at the forefront of digital innovation is a key priority for Nomura,” said Kentaro Okuda, Group CEO of Nomura Holdings. “That’s why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would create a new subsidiary focused on digital assets.”

Laser Digital’s business goals were revealed at its unveiling to focus on three main areas. Areas include secondary trading, venture capital and investment products for clients. Additionally, clients of the new company can expect Laser Digital to invest in growth-promising Decentralized Finance (DeFi) companies, centralized finance companies, and start-ups specializing in large tech companies. distributed book (DLT) and Web 3.

Nomura’s plan to create a digital asset subsidiary was not a flash in the pan. Instead, indices were dropped by the investment bank in May. A regional news outlet reported at the time that the new company’s staff would be mostly Japanese until it began hiring talent in the virtual asset industry.

Experts noted that Nomura might have been motivated to invest in digital assets following the loss of quarterly profits due to unprofitable trading decisions.

“If we don’t do it now, it will be harder to compete,” said a Nomura executive.

The charm of Switzerland attracts new visitors

Laser Digital chose Switzerland as its headquarters for a multitude of reasons. At the top is the Swiss government’s positive stance towards digital assets, with regulators backing the efforts of new ventures in the sector. Another reason for moving to Switzerland is the proximity to potential investors, given the country’s attractiveness for attracting capital globally.

In July, Komainu, the Nomura-backed digital asset custodian secured permission to operate in Dubai. Komainu chose Dubai over other Southeast Asian jurisdictions due to innovative legislation put in place by regulators to enable a level playing field for participants.

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