Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Nomura Forays Into Metaverse To Tap Opportunities That Could Reach $600B By End Of Decade

  • Japan's leading brokerage Nomura Holdings Inc (NYSE:NMR), built a team to help firms tap opportunities in the metaverse, Bloomberg reports.
  • Nomura joins rival Wall Street giants in exploring opportunities in the virtual reality market that could reach $600 billion by the end of the decade, Bloomberg wrote.
  • Nomura's plans for the metaverse are part of a broader digital push, which CEO Kentaro Okuda considered a "critical part" of the brokerage's expansion into private markets to bolster profit.
  • The brokerage's Digital Company may recruit "a few dozen" partly to boost its research and development of metaverse and other blockchain-driven services.
  • Nomura will launch a subsidiary within the Digital Company to help institutional clients access products and services related to cryptocurrencies, stable coins, and non-fungible tokens (NFTs). 
  • Nomura also recently started offering Bitcoin derivatives to clients in Asia after institutional demand for cryptocurrency products "significantly" increased in the past two years. 
  • Nomura considered using its investment banking knowledge to help companies in the virtual space raise money and advise on how to navigate regulations as they emerge, its senior MD said.
  • Nomura could make money by creating securities out of digital assets, like shoes and other non-fungible tokens.
  • Price Action: NMR shares traded up by 2.15% at $3.73 on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.