According to a report from Blockworks, Laser Digital, the recently established Bitcoin and cryptocurrency division of Nomura, Japan’s largest brokerage and investment bank, aims to increase its staff in order to expand its range of services. A Bitcoin trading platform for institutional clients is expected to go live in 2023.

Over the next three months the subsidiary plans to hire an additional 55 people, a 45% increase in its staff. The company plans to offer a variety of Bitcoin and cryptocurrency services along with opportunities for venture capitalist investing in the sector.

The goal of Laser Digital is to increase employment levels in its Swiss headquarters initially, then open further facilities in Dubai and London. After increasing its global workforce numbers, the company will set plans for a location in Japan.

CEO Jez Mohideen reportedly stated that Laser Digital is in no rush to announce a profit as the company waits for regulator approval in Dubai.

According to Mohideen, Nomura’s management team initially opposed the concept of setting up a dedicated division for Bitcoin and other cryptocurrencies.

Mohideen stated that “for us, it’s taken a while, a lot of work, and we’ve got to a point now where the firm is a strong believer.”

Laser Digital will use its trading platform to target institutional clients, family offices, high-net-worth individuals, and hedge funds that are active investors in Bitcoin and cryptocurrencies.

Mohideen explained that the company brings extensive skill sets in quantitative analysis, electronic trading platform development, and strict risk control. “I think that this sort of skill set is invaluable for the institutionalization of digital assets. There’s no question everybody’s waiting in the crypto ecosystem for institutions to come in,” he added.

Share this article
The link has been copied!