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The crypto division of Japanese financial behemoth Nomura will be domiciled in Switzerland

The Tokyo-based Nomura Holdings, Inc. financial services corporation has revealed its new Swiss-based digital asset subsidiary, Laser Digital, and associated holding company Laser Digital Holding.

According to the press release, Laser Digital will concentrate on secondary trading, venture capital, and investor products.

Laser Venture Capital, the first offering from the cryptocurrency division, will invest in businesses engaged in digital finance (DeFi), Web3, and blockchain infrastructure.

Nomura identified Switzerland as its choice for its crypto hub because of the country’s legal framework for cryptocurrencies and blockchain technology as well as an appealing talent pool.

The initial Nomura plan for Laser Digital was made public back in May, and it said that the subsidiary would hire an additional 100 people by the end of 2024.

Steven Ashley, a former head of Nomura’s wholesale division, will serve as chairman of Laser Digital, and Jez Mohideen, the global chief digital officer of the same division, has been named CEO.

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