Investment bank Nomura has invested in Japanese blockchain business Crypto Garage, according to a press release.
The company said that it has “agreed to a third party allocation of shares” in Crypto Garage, a subsidiary of Digital Garage whose products include Settlenet, a blockchain settlement platform.
Nomura said it will work closely with the startup to help cater to institutional investors in Japan's digital assets sector.
A memorandum of understanding has also been struck that will see Nomura, Crypto Garage and Komainu — a crypto custody business set up as part of a joint venture involving Nomura — explore offering crypto custody services for institutions in Japan.
Komainu raised $25 million in March of this year in a Series A round led by British billionaire Alan Howard.
Crypto Garage is registered with the Kanto Finance Bureau, part of Japan’s Ministry of Finance, as a crypto asset exchange — meaning it can act as an intermediary for transactions between domestic crypto firms and other companies.