A leading Japanese financial services firm, Nomura, has created another daughter company called Laser Digital. The firm, whose head office is in Tokyo, stated that this newly founded company would concentrate on cryptocurrency.
The Crypto-Focused Daughter Firm
The Tokyo-based firm firstly made this announcement a few months ago, when they recorded twice their revenue at the end of the 2022 financial year. The over 95 years old firm finally actualized the plan.
The establishment announced that the name of the daughter firm would be Laser Digital Holding AG in an official statement on the 21st of September 2022. They further revealed the enterprise’s location would be Switzerland. The enterprise will concentrate on venture capital, amongst other products.
They also announced the appointment of the Chairman and the Chief Executive Officer for the corporation. Steven Ashley will take the chairman position, while Jez Mohideen will hold the CEO role. Also, Nomura disclosed Lazer Digital would build on Namura’s global customer base to create values for their customers using digital currencies.
Also, the corporation clarified Laser Digital would kickstart many products and service lines that Nomura has in plan. The daughter firm will start its first product, which is Venture Capital, and it will target Web3 and blockchain-related firms.
According to a report five months ago, the leading investment bank in Japan disclosed its proposals to create close to 100 employment opportunities by combining some of its crypto-related services in one subsidiary by 2023.
Remaining On Top
Nomura believes Switzerland has a developed environment coupled with standard regulations favorable to cryptocurrencies and blockchain. They added that they selected the nation because it houses numerous talents.
The President and CEO of the corporation, Kentaro Okuda, affirmed they believe Mohideen and Ashley will guide the daughter company to sustainable development. He added that they founded a new subordinate concentrating on cryptocurrency to achieve their goal of remaining at the top of digital innovation.
Similarly, Instinet Holding, a US-based daughter company of Nomura, disclosed they’ll acquire FIS Execution Services 3 months ago.
Instinet’s Chief Executive Officer, Ralston Roberts, believes acquiring the business will boost productivity and reduce running costs since they utilize developed technology and research. He further explained that they also have similar goals as they concentrate on customer performance quality.
In Singapore, Nomura named Tan Tee How as the new head of its board in the nation and the chief of the Nomura Asia Pacific Holdings Audit Committee.