Japan’s Nomura To Explore NFTs And Crypto Via Its New Unit

Nomura, a prominent Japanese investment bank with $1.8 trillion in assets under management and over 3,000 employees globally is launching an incubator dedicated to blockchain-powered games. The new unit will explore the use of nonfungible tokens (NFTs) as well as crypto

The “what are nft tokens” is a question that has been asked many times. The new unit, Nomura International Asset Management Co., Ltd. will explore the use of non-fungible tokens and cryptocurrency.

As part of its reorganization, Nomura indicated in a news statement that it was already forming a new Digital Company that would begin operations in April 2022. Nomura Holdings has announced the formation of a new digital assets team to assess current possibilities in the asset class, which might imply increased institutional interest in cryptos and Non-Fungible tokens (NFTs).

The wealth management business said that its Future Innovation Company will be restructured into a new Digital Company, which would begin operations in April. In this regard, the new firm’s main goal will be to increase customers’ utilization of digital assets and provide associated services.

Nomura Group President and CEO Kentaro Okuda stated:

“The new Digital Company will foster closer cooperation among internal and external stakeholders, expedite our use of digital technology, and improve our client services,” said the CEO.

The $641 billion in assets under management wealth manager said that it seeks to enhance digital usage across all of its businesses. Surprisingly, the new section is said to be looking at cryptos and NFTs, among other digital assets.

Despite having some of the strictest crypto laws, nonfungible tokens are becoming more popular in Japan. Nomura Holdings is the latest major player in the Asian economic superpower to contemplate investing in NFTs. Rakuten, a large Japanese e-commerce corporation, has announced the debut of Rakuten NFT, their NFT trading platform.

Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial conglomerate, said in February that it will shut down its three-year-old blockchain payment project in order to concentrate on stablecoins.