Nomura looks to offer crypto services to Japanese institutions with new investment

Nomura looks to offer crypto services to Japanese institutions with new investment

Investment bank Nomura has invested in Japanese blockchain business Crypto Garage, according to a press release.

The company said that it has “agreed to a third party allocation of shares” in Crypto Garage, a subsidiary of Digital Garage whose products include Settlenet, a blockchain settlement platform.

Nomura said it will work closely with the startup to help cater to institutional investors in Japan's digital assets sector.

A memorandum of understanding has also been struck that will see Nomura, Crypto Garage and Komainu — a crypto custody business set up as part of a joint venture involving Nomura — explore offering crypto custody services for institutions in Japan.

Komainu raised $25 million in March of this year in a Series A round led by British billionaire Alan Howard.

Crypto Garage is registered with the Kanto Finance Bureau, part of Japan’s Ministry of Finance, as a crypto asset exchange — meaning it can act as an intermediary for transactions between domestic crypto firms and other companies.

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