Nomura Holdings Plans to Break a Profit at Its Crypto Unit Within Two Years

Nomura Holdings plans to break a profit at its crypto unit within two years as the spectacular failure of FTX spurs demand for safer counterparties in the digital-asset sector.

The unit, Laser Digital, will leverage the backing of the Tokyo-based investment bank to win over institutional investors and plans to add 50 employees by March, its CEO Jez Mohideen said. It’s now easier to hire talent and acquire assets at a lower valuation, he said, adding that the firm has tightened risk management.