Nomura Executive: FTX Downfall Might Boost ‘Further Trust’ In Digital Asset Ecosystem

Jez Mohideen, the co-founder and CEO at Laser Digital, the virtual assets arm of the Asian giant Nomura Holdings argued that traditional financial organizations entering the digital asset domain will help to regulate the industry.

A long-time participant in the venture sector and former director at Barclays and partner at the hedge fund Brevan Howard, Mohideen explained,

“More traditional players are entering the space who can help to regulate the sector. This means players who understand regulation as well as the importance of clients’ aggregation, stability, and execution.”

The executive further mentioned,

“The lack of adequate infrastructural solutions has created a significant bottleneck for crypto-keen institutions — we want to help solve this bottleneck issue.”

As per him, in web3, the company is especially eager to work on infrastructure solutions that will accelerate institutional adoption of digital assets, including DeFi.

He added,

“Web3 and Metaverse platforms stand to be a major area for growth in the next few years. Also, Web2 services, like social media, streaming entertainment and gaming stand to see huge upside if they embrace Web3 technology and governance.”

Notably, as one of the largest banks in Japan, Nomura Holdings had a reported four hundred and seventy billion dollars worth of assets under management by the end of last year. In 2022, the company also declared plans to launch a virtual asset subsidiary aimed at investments in digital currencies and NFTs.