Only days after launching its first-ever Over-the-Counter Bitcoin derivatives to institutional clients, Japan’s largest investment bank Nomura doubled down on its crypto-based services by launching a new digital asset unit for institutional investors.
The financial giant will house a mix of digital asset companies underneath its newly established subsidiary, which will recruit 100 employees by the end of next year, according to a sourceThe coverage revealed that Nomura’s executive would lead the new branch, noting that the majority of new employees will be recruited outside, and fifteen current company staff will be transferred to the new unit.
Jez Mohideen, the chief digital officer for the bank’s wholesale business, will reportedly lead the crypto unit. One of Nomura’s executives expressed urgency to the latest foray into crypto-based services tailored for institutions, adding that the inflationary environment was a key factor in accelerating the company’s new development.
“Any asset class at the moment that has discounted cash flow is all under huge stress in an inflationary environment. But I think…many managers will be looking and thinking about potentially allocating towards blockchain technology and blockchain opportunities.”
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »