Japan’s Nomura and partners launch cryptocurrency overseer Komainu

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Japan’s Nomura and partners launch cryptocurrency overseer Komainu

Tokyo-based Japanese lender Nomura Holdings Inc., the 95-year-old financial services provider, alongside its cryptocurrency partners Ledger and CoinShares had rolled out an overseer for digital assets named Komainu on Wednesday, which in effect would act as a guardian of the digital assets for financial institutions, the Nomura-backed joint-venture of the Japanese lender alongside its crypto partners, regulated by the Jersey Financial Services Commission, had unveiled in a joint statement on Wednesday.

In point of fact, the joint venture between Nomura and its cryptocurrency partners, which was announced back in the 2018s, had also added in its statement that their newly formed custodian for the digital assets would be led by the CoinShares Chief Executive and Co-Founder Jean-Marie Mognetti.

Meanwhile, adding that the Komainu platform had been on a trial-run for months with a limited number of clients, the Komainu Chief Mognetti said in an interview with a press agency shortly after the announcement, “We have been trialling the platform with a limited number of clients for four to five months and are now launching to new clients,”.

Nomura hopes a near-term digitalization of bonds and equities

Aside from that, while the latest Nomura Holding Inc.-owned Japanese lender and financial services provider’s move to unveil its custodian for digital assets came against the backdrop of a likely clogged market atmosphere with more established financial services providers offering custodies for digital assets such as bitcoin and others, enunciating a strident market prospect that conventional assets likes of Government bonds alongside equities could be digitalized in a near-term outlook to cut expenses and to simplify the processes, the Global Chief Digital Officer for wholesale at Nomura, Jerri Mohideen said in an interview with a press agency later on the day, “We have been very focused on the evolution of the digital asset ecosystem. For us it was critical that we solve the custody issue”.