Nomura plans to break profit at unit in 2 years

Nomura Holdings plans to break a profit at its unit within two years after the failure of Sam Bankman- Fried's FTX exchange spurs demand for safer counterparties in the digital-asset sector.

The unit, Laser Digital, will have the backing of the Tokyo-based investment bank to win over institutional investors and plans to add 50 employees by March, according to Chief Executive Officer Jez Mohideen. He said it is easier to hire talent and acquire assets at a lower valuation, because the firm has tightened risk management.

In an interview, Mohideen said that the latest events in the market will provide an opportunity for institutional investors to invest in digital-asset firms backed by traditional finance houses. We believe we can turn profitable within two years and we have done all the stress tests and assuming worse-case scenarios in terms of market volume and price volatility. It could be due to a conflict with your ad blocker or security software. There are jp and piano.io on your list of allowed sites. If this does not resolve the issue, or you are unable to add the domains to your allowlist, please see this FAQ. We apologize for the inconvenience.