Nomura has partnered with MV Index Solutions (MVIS) and Intelligence Unit (IU) to jointly launch the NRI/IU Crypto Asset Index for financial institutions. The investable index offers an investment solution for Japanese financial institutions as well as global investors.
The index uses crypto-asset index platforms provided by MVIS and CryptoCompare to provide “the first crypto-asset benchmark for institutional investors in Japan”, the announcement states. The NRI/IU Crypto-Asset Index is said to be a reliable reference point for evaluating performance by providing benchmarks constructed with a clear and transparent methodology.
In 2018, Nomura decided to become a custodian of digital assets in Japan. In May of that year, the bank established a new venture, Komainu, to overcome barriers to institutional investment in digital assets with new services, standards, and best practices. The venture was co-founded by Ledger and CoinShares’ Global Advisors. It will provide infrastructure and an operational framework to the wider investment management industry and enable investors to embed or implement a consistent set of best practice standards within their businesses.
The custody offering will address challenges faced by investors entering the sector. Jez Mohideen, Global Chief Digital Officer, Wholesale at Nomura, said at the time: “Global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk. Our new partnership will set the required standards that will bring peace of mind to digital asset investors, and provide tools and products to enable better integration with more traditional investment vehicles such as mutual funds.”
In November 2019, Nomura’s Komainu was granted regulatory approval from the Jersey Financial Services Commission to operate as a custodian and depositary. Nomura joined Fidelity and Intercontinental Exchange (ICE)-owned Bakkt in the mission to create a cryptocurrency ecosystem for institutional investors.
