NMR - Nomura's crypto unit takes stake in DeFi protocol Infinity Exchange

• Laser Digital, the digital asset arm of Japanese financial services firm Nomura Holdings ( NYSE: NMR ), is investing in Infinity Exchange, an institutional-grade decentralized finance (DeFi) protocol, the companies said in a release Wednesday.
• The Infinity protocol, founded by a Morgan Stanley ( MS ) alum, provides institutional investors a basis for benchmark interest rates, lending, borrowing and risk management in DeFi. The size of the investment was not specified.
• The main incentive of DeFi trading is that people can transfer funds without relying on intermediaries (i.e., banks). Switzerland-based Laser Digital, launched by Nomura ( NMR ) during the height of the crypto rout last year, is also focused on other investments within centralized finance (CeFi), web3 and blockchain infrastructure.
• “Infinity’s groundwork paves the way for institutional flows on-chain, new levels of rates and risk innovation,” Olivier Dang, head of Ventures at Laser Digital, said in a statement.
• In May 2022, Nomura dove into crypto derivatives trading.

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