Investment Giant Nomura with $569B in AUM Invests in Crypto Exchange to Offer Custody Services in Japan
Investment bank Nomura has invested in Japanese blockchain company Crypto Garage, a subsidiary of Digital Garage, through a third-party collection of shares, according to a press release.
Headquartered in Tokyo, Nomura is one of the largest investment managers in Japan, with US$ 569 billion in assets under management.
Crypto Garage is registered as a digital asset exchange with the Kanto Finance Bureau, part of Japan’s Ministry of Finance. This allows the firm to act as an intermediary of transactions between domestic crypto firms and other companies.
Nomura has signed a memorandum of understanding between Crypto Garage and Nomura along with Komainu, a crypto custody business set up as a joint venture with Nomura that raised $25 million this year in a Series A round led by billionaire Alan Howard.
Together, they all will explore offering crypto custody services for institutions in Japan.
“We are excited to enter into this agreement with Crypto Garage to explore bringing our institutional-grade custody services to an underserved market in Japan,” said Henson Orser, Komainu’s President, and Acting CEO.