Nomura Holdings, one of Japan’s leading wealth managers, announced the formation of a new team to investigate digital assets such as cryptocurrencies and NFTs, noting the sector’s enormous potential. According to a press statement, the corporation will reorganize its Future Innovation Firm into a newly formed Digital Company, beginning next month. The new firm’s primary purpose will be to encourage digital asset usage while also providing clients with associated services.
Nomura, which manages assets worth around 74 trillion yen ($641 billion), also stated that it will increase digital adoption throughout its businesses. According to Bloomberg, Japan’s crypto business is valued at over $1 trillion.
Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, launched a stablecoin platform earlier in February. Japan, on the other hand, has some of the world’s most stringent crypto legislation. Large corporate crypto usage has been on the rise in general, since 2021. Tesla accepts dogecoin at its supercharger stations and allows the token to be used to buy items. Ebay, the largest online marketplace in the United States, has announced that it may begin taking cryptocurrency payments as early as next week. NFTs may currently trade on the company’s platform.
On a national scale, the Russian invasion of Ukraine prompted Kyiv to become the first country to accept cryptocurrency donations. Ukrainians also poured money into the stablecoin ‘Tether’ after the central bank halted electronic currency transactions. On March 3, Ukraine launched a crypto airdrop for contributors.