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

Anusuya Lahiri
1 min read
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In this article:

  • 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.

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