Nomura Holdings is one of Japan’s largest wealth managers. They are creating a new unit for digital assets that will include cryptocurrencies, NFTs and cryptocurrencies, CoinJournal discovered from a press release posted on their . website.

Capitalizing upon the increasing adoption of digital assets

Nomura will reorganize its Future Innovation Company to create a new Digital Company. This is expected to happen in the near future. Its primary goal is to increase digital asset adoption and provide relevant services to clients.

NFTs and other digital assets such as security tokens and cryptocurrencies are becoming a prominent asset class. The fusion of traditional finance and distributed ledger technology is enabling new types of services.

Kentaro OKuda, President of Nomura and Group CEO, said:

This is an important step in our digital evolution. Our strategic drive to expand operations in private markets through digital technology is key. The new Digital Company will foster deeper collaboration between internal and external stakeholders, accelerate digital technology adoption, and improve client services.

Nomura jumps on the crypto bandwagon

The company manages about 74 trillionyen in assets, which is equivalent to $641 milliards. They plan to encourage digital adoption through their subsidiaries. This announcement comes after Rakuten launched an NFT marketplace.

Data from Bloomberg indicates that Japan’s crypto market is worth approximately $1 trillion. The country’s largest bank, MUFG launched a stablecoin platform in early January.

Draconian rules, but there is hope for Japan

The land of the rising Sun is subject to some of the most stringent crypto regulations in the world. Although the government recognizes digital assets, crypto exchanges have to overcome many hurdles in obtaining licenses.

Corporations has been using crypto since last year. Tesla accepts Dogecoin at its supercharger stations and sells some merchandise for DOGE. eBay released a statement stating that it may accept crypto payments within the next week. It allows NFT trading.

Ukraine adopted crypto

After the Russian invasion, Ukraine adopted cryptocurrency to receive donations. It was the first country to do this in history. When the national bank stopped electronic cash transfers, Ukrainians began to invest in stablecoin Tether.