In a move that may signal a growing institutional interest in cryptocurrencies and non-fungible tokens (NFTs), Nomura Holdings has announced the formation of a new digital asset group to explore potential opportunities in this asset class.

The retail, wholesale and investment firm said it is restructuring Future Innovation into an all-new digital company starting in April. The main objective of the new company will be to increase the use of digital assets by customers and provide related services. Nomura Group President and CEO Kentaro Okuda said:

“The new digital company will lead to greater collaboration between internal and external stakeholders, accelerate our digital adoption and improve customer experience.”
The giant, which manages assets worth about 120 trillion yen ($1 trillion), said it wants to increase digital adoption across all of its operations. The new section will reportedly explore the possibilities of cryptocurrencies and NFTs, as well as other digital assets.

Source: stevepb, Pixabay

NFTs are becoming more and more popular in Japan even though there are some stricter regulations for cryptocurrencies. Japanese financial conglomerate Nomura Holdings has become the last major player in the country to resort to NFTs. Last week, the large Japanese e-commerce company Rakuten announced the launch of its own NFT trading platform called Rakuten NFT.

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Last month, Japan’s largest financial conglomerate Mitsubishi UFJ Financial Group (MUFG) announced that it was ending a three-year blockchain payments project to focus on stablecoins.

Source: CoinTelegraph