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5/16, 1:23 PM (Source: TeleTrader)
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Nomura to open new crypto arm - report

Japanese bank Nomura Holdings is planning to open a new subsidiary to provide its institutional clients easier access to cryptocurrencies, the Financial Times reported on Monday, citing people familiar with the plans.

The unit is planned to hire some 100 employees by the end of 2023, the report read and added that the bank will combine multiple digital assets in its offer.

"The new company, which will be run by current Nomura executives but will hire extensively from outside, will allow the Japanese brokerage to compete with other major global banks already offering institutional clients services and products linked to bitcoin, stable coins and other digital assets," the outlet concluded.

Baha Breaking News (BBN) / BU