In a move that may suggest a growing institutional interest in cryptocurrencies and NFTs, Nomura Holdings has announced that it is establishing a new digital assets team to pursue potential opportunities in the asset class.

The wealth management company said it was restructuring its Future Innovation Company into an entirely new Digital Company, due to start operations in April. The main objective of the new company will be to increase the use of digital assets by customers and provide related services. Nomura Group Chairman and CEO, Kentaro Okuda said:

“The new Digital Company will lead to deeper collaboration between internal and external stakeholders, accelerate our adoption of digital technologies and improve our customer services.”

The wealth manager, which has around $641 billion in assets under management, stated that it aims to increase digital adoption across its operations. The new division will reportedly explore opportunities in cryptocurrencies and NFTs, among other digital assets.

Source: stevepb, Pixabay

NFTs are becoming increasingly popular in Japan, despite having some of the strictest crypto rules. Japanese financial services conglomerate Nomura Holdings is the latest major player to look into NFTs in the country. Last week, major Japanese e-commerce company Rakuten announced the launch of its own NFT trading platform called Rakuten NFT.

Related: Japan-Based Messaging App to Offer Native Token Test Run Starting in March

Last month, Japan’s largest financial conglomerate Mitsubishi UFJ Financial Group (MUFG) announced that it would end its three-year-old blockchain payment project to focus on stablecoins.

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