Nomura, a global financial services company headquartered in Tokyo, Japan, has named its new digital asset business Laser Digital.

This comes four months after the 96-year-old company, which recently doubled its net revenue, announced its plan to establish a new digital asset company.

Nomura in a statement released on Wednesday said it has incorporated the new business in Switzerland as Laser Digital Holdings AG.

The new subsidiary will be focused on secondary trading, venture capital and investor products, Nomura noted.

The firm further disclosed that it has appointed Steven Ashely as Chairman and Jez Mohideen as CEO of the new firm.

“Building on Nomura’s expertise in institutional investor businesses and global client base, Laser Digital will provide new value in the area of digital assets to our clients,” Nomura explained in the statement.

The naming of Laser Digital is part of Nomura’s 'staged launch' of the new business subsidiary lined with new services and products to be launched in the coming month.

Nomura stated Laser Venture Capital will be the first product to be launched under the new subsidiary.

The venture capital project will invest in companies active in the blockchain industry, specifically in centralized and decentralized finance, Web3 and blockchain infrastructure.

Finance Magnates reported in May that the top Japanese investment bank had said it will combine a number of its digital asset services under a single wholly-owned subsidiary that will employ about 100 people by the end of 2023.

‘Staying at the Forefront’

Defending the choice of Switzerland for Laser Digital, Nomura said it chose the country because of its established business location and strong regulatory framework for digital assets and blockchain projects.

The firm also described Switzerland as “an attractive talent pool.”

Speaking in the press statement, Kentaro Okuda, the President and Group CEO of Nomura Holdings, noted that the financial services giant was looking forward to the sustainable growth of the new subsidiary under Ashely and Mohideen.

"Staying at the forefront of digital innovation is a key priority for Nomura. This is why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would be setting up a new subsidiary focused on digital assets,” Okuda said.

Meanwhile, Nomura’s US-based subsidiary, Instinet Holdings confirmed it plans in June to purchase agency-focused broker FIS Execution Services.

“There is tremendous alignment between our mission and theirs: we both are intensely focused on our clients’ execution performance quality. And, we both use quantitative research and advanced technology to drive efficiencies and lower trading costs,” explained Ralston Roberts, the Global CEO of Instinet.

Furthermore, Nomura Singapore recently appointed Tan Tee How to replace Michael Lim as the Chairman of its Board of Directors and that of the Audit Committee of Nomura Asia Pacific Holdings.

Nomura, a global financial services company headquartered in Tokyo, Japan, has named its new digital asset business Laser Digital.

This comes four months after the 96-year-old company, which recently doubled its net revenue, announced its plan to establish a new digital asset company.

Nomura in a statement released on Wednesday said it has incorporated the new business in Switzerland as Laser Digital Holdings AG.

The new subsidiary will be focused on secondary trading, venture capital and investor products, Nomura noted.

The firm further disclosed that it has appointed Steven Ashely as Chairman and Jez Mohideen as CEO of the new firm.

“Building on Nomura’s expertise in institutional investor businesses and global client base, Laser Digital will provide new value in the area of digital assets to our clients,” Nomura explained in the statement.

The naming of Laser Digital is part of Nomura’s 'staged launch' of the new business subsidiary lined with new services and products to be launched in the coming month.

Nomura stated Laser Venture Capital will be the first product to be launched under the new subsidiary.

The venture capital project will invest in companies active in the blockchain industry, specifically in centralized and decentralized finance, Web3 and blockchain infrastructure.

Finance Magnates reported in May that the top Japanese investment bank had said it will combine a number of its digital asset services under a single wholly-owned subsidiary that will employ about 100 people by the end of 2023.

‘Staying at the Forefront’

Defending the choice of Switzerland for Laser Digital, Nomura said it chose the country because of its established business location and strong regulatory framework for digital assets and blockchain projects.

The firm also described Switzerland as “an attractive talent pool.”

Speaking in the press statement, Kentaro Okuda, the President and Group CEO of Nomura Holdings, noted that the financial services giant was looking forward to the sustainable growth of the new subsidiary under Ashely and Mohideen.

"Staying at the forefront of digital innovation is a key priority for Nomura. This is why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would be setting up a new subsidiary focused on digital assets,” Okuda said.

Meanwhile, Nomura’s US-based subsidiary, Instinet Holdings confirmed it plans in June to purchase agency-focused broker FIS Execution Services.

“There is tremendous alignment between our mission and theirs: we both are intensely focused on our clients’ execution performance quality. And, we both use quantitative research and advanced technology to drive efficiencies and lower trading costs,” explained Ralston Roberts, the Global CEO of Instinet.

Furthermore, Nomura Singapore recently appointed Tan Tee How to replace Michael Lim as the Chairman of its Board of Directors and that of the Audit Committee of Nomura Asia Pacific Holdings.