On the 24th July, Nikkei
reported details about Nomura Research Institute (NRI) and Nomura Holdings’ plans for a jointly developed blockchain trading platform. Yesterday we learned that their joint venture,
announced last month, will initially be aimed at corporate bonds with other types of securities to follow later. The Japanese firms hope to have their platform in use by summer 2020.
Nomura, an international financial services company, and NRI, an IT service provider and consultancy firm, began collaborating on distributed ledger technology (DLT) in 2015 for equities management. Nomura Holdings owns just over a third of NRI’s shares. Their joint venture to develop a blockchain securities platform is slated to be incorporated next month. Its initial capital will be 2.4 billion Yen ($22 million), and Nomura Holdings will own two-thirds of the shares.
Corporate bonds are often raised in large amounts to reduce the workload that comes with issuing bonds. Currently, the process carries an administrative burden and high costs. NRI and Nomura promise to streamline the entire process.
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