Nomura Holdings, Japan’s largest investment bank and brokerage firm, has stepped up risk management in its crypto business following losses in Europe linked in part to digital asset market setbacks.
CFO Hiroyuki Moriuchi made the comments during a Friday conference call, noting the measures are intended to limit short-term swings in earnings. Despite reducing exposure to digital assets, the company stays committed to crypto over the long term.
Nomura saw quarterly profit decline after losses in its European business and exceptional costs linked to the acquisition of Macquarie Group weighed on results, offsetting gains in trading and wealth management.
Nomura closed a $1.8 billion acquisition of Macquarie Group’s US and European public asset management business, expanding its global asset management footprint.
The firm is the parent of Laser Digital, its digital asset arm, which is seeking approval to operate as a federally chartered bank in the US.
No Comment! Be the first one.