Nomura Investment In Blockchain Payment Company Fnality

Nomura, a Japanese financial services conglomerate, has invested in Fnality, a worldwide banking consortium focused on establishing a blockchain-based payment system to enable the development of tokenized assets and markets.

According to a statement made by Fnality on Monday, Nomura has invested in the London-based blockchain payments business Fnality.

In addition, the financial services organization will join Fnality’s worldwide consortium of global banks, which is working to develop a regulated, peer-to-peer payments system based on digital assets.

Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, Credit Suisse, Euroclear, ING, KBC Group, Lloyds Banking Group, Mizuho Financial Group, MUFG Bank, Nasdaq, Sumitomo Mitsui Banking Corporation, State Street Corporation, and UBS are among the 16 major financial institutions that have already backed Fnality.

Fnality, originally known as Utility Settlement Coin (USC), was launched in 2019 with the intention of creating a network of wholesale blockchain-based payment systems priced in the US dollar, Canadian dollar, euro, British pound, and yen. The tokenized currencies would be fully backed by the relevant central bank’s fiat currency.

The revelation of Nomura’s support comes as the investment bank establishes a new crypto venture capital arm inside the division of its digital assets. Laser Venture Capital will invest in startups in areas such as DeFi and blockchain infrastructure.

Nomura’s new digital assets subsidiary, Laser Digital, has launched its first product, Laser Venture Capital. The bank is preparing two more product launches, one for secondary trading and one for investor goods.

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