Japanese banking giant Nomura’s crypto unit to be based in Switzerland
Danny Park (via Forkast)
Tokyo-based financial services group Nomura Holdings, Inc., recently announced its new digital asset subsidiary named Laser Digital and respective holding company Laser Digital Holding, which will be active in Switzerland.
Laser Digital will focus on secondary trading, venture capital and investor products, according to the press release.
The crypto subsidiary’s first product to launch will be Laser Venture Capital, which will invest in firms operating in digital finance (DeFi), Web3 and blockchain infrastructure.
Nomura cited Switzerland’s regulatory regime for crypto and blockchain coupled with an attractive talent pool as reasons behind picking the country as its crypto hub.
Nomura’s initial plan for Laser Digital was revealed back in May, where it was reported that the subsidiary will increase its number of staff to 100 by the end of 2024.
The former head of Nomura’s wholesale division Steven Ashley will lead Laser Digital as chairman while Jez Mohideen, the global chief digital officer of the same division has been appointed as chief executive officer.