SCGLY - Nomura Sees Broader Market Hurdles To Delay Crypto Unit's Profitability Levels | Benzinga
Nomura (NYSE: NMR), a Japan-headquartered global financial services group, announced its cryptocurrency unit Laser Digital is likely to take a longer period to report profitability levels.
This is due to many factors like shrinking volumes, narrowing activity and changing needs of regulators in the crypto space.
Laser Digital started in September 2022 and was targeted to turn profitable by 2024. While the company has 70 employees currently, it plans to expand the team by up to 20 more over a period. It also wants to establish a Tokyo office with four to six professionals to provide support to its global trading activities.
To see what the future holds for Nomura’s crypto unit, find out ...