Nomura looks to offer crypto services to Japanese institutions with new investment

Institutional Investors • October 20, 2021, 5:21AM EDT
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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.

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Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.

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