Three Major Japanese Securities Firms Consider Entering Cryptocurrency Trading Business

Odaily News Three major Japanese securities firms with a combined market capitalization of approximately $48 billion have indicated they are considering entering the cryptocurrency trading business. Among them, Nomura Holdings, Japan's largest securities provider managing around $673 billion in client assets, will have its Swiss crypto subsidiary Laser Digital handle related operations. The report states that the other two firms—Daiwa Securities Group and SMBC Nikko Securities—are also actively considering entering the cryptocurrency trading market. These three companies anticipate a surge in cryptocurrency investment demand once Tokyo relaxes restrictions on cryptocurrency exchange-traded funds (ETFs), hence the need for early strategic positioning. (DL News)