Nomura’s digital asset subsidiary Laser Digital has invested in two digital asset firms that borrow concepts from TradFi. ClearToken is creating a central counterparty (CCP) to remove bilateral counterparty risk. And Crossover Markets has just launched an execution only network, so institutional crypto investors can choose their own custody, brokerage and credit options. The two investments appear complementary, with one targeting fast low risk crypto trade execution and the other addressing post trade risks.
Laser seems to have a closer relationship with ClearToken which it incubated.
ClearToken’s CCP will centralize clearing, settlement, collateral and risk management arrangements similarly to CCP’s for conventional assets. Hence instead of clearing and settling directly, investors, exchanges, brokers, market makers and custodians will settle with the CCP.
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