In a move that may indicate growing institutional interest in cryptocurrencies and NFTs, Nomura Holdings announced the formation of a new digital asset team to explore potential holdings in this asset class.

The asset management company said it will restructure its subsidiary, Future Innovation, into a brand new digital company to begin operations in April. The main goal of the new company will be to increase the use of digital assets by customers and offer related services. Nomura Group President and CEO Kentaro Okuda said:

“The new digital company will foster greater collaboration between internal and external stakeholders, accelerate our digital adoption and improve our customer experience.”
The wealth manager, who has total assets of about $641 billion, said he is looking to increase digital adoption across all companies. 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 popular in Japan, although there are stricter encryption rules. Japanese financial conglomerate Nomura Holdings is the latest major player to look at NFTs in the country. Last week, major 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 the completion of a three-year blockchain payments project to focus on stablecoins.

Source: CoinTelegraph