{"id":58371,"date":"2023-09-08T04:45:48","date_gmt":"2023-09-08T08:45:48","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/nomuras-crypto-arm-might-take-longer-time-to-turn-profitable-after-market-rout-ceo\/"},"modified":"2023-09-08T04:45:50","modified_gmt":"2023-09-08T08:45:50","slug":"nomuras-crypto-arm-might-take-longer-time-to-turn-profitable-after-market-rout-ceo","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58371","title":{"rendered":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO"},"content":{"rendered":"<div>\n<p style=\"text-align:justify;\">Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as the company is still grappling to recover from the sector\u2019s turmoil.<\/p>\n<p style=\"text-align:justify;\">Laser Digital had previously forecasted to make profits by 2024. However, in an interview with Bloomberg, the company\u2019s CEO Jez Mohideen noted that the firm has been hit by the crypto industry\u2019s turmoil, which would delay its profit making growth.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cOur profitability journey may take a bit longer than we forecast a year ago. Volumes have come down, activity has shrunk, regulators\u2019 needs are changing &#8211; all these are leading to some delays in our overall journey including profitability.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align:justify;\">In December 2022, Mohideen noted that Laser Digital would break a profit within two years, as there is a demand for safer alternatives in the crypto sector, following the spectacular failure of Sam Bankman-Fried\u2019s FTX exchange.<\/p>\n<p style=\"text-align:justify;\">The crash, which wiped out $2 trillion of crypto market value, took a toll on the entire sector, causing repercussions to numerous exchanges and crypto-centric firms.<\/p>\n<p style=\"text-align:justify;\">\u201cWe\u2019ve run all the stress tests and assuming worst-case scenarios in terms of market volume, price volatility, we believe we can turn profitable within two years,\u201d he said at the time.<\/p>\n<p style=\"text-align:justify;\">The company also planned to add more workforce by this March, stating that it&#8217;s easier to hire talent and acquire assets at a lower valuation. Laser Digital has hired 70 staff so far and plans to add up to 20 more over time, Mohideen noted.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cThe crypto subsidiary of Nomura is setting up an office in Tokyo to offer support to its global trading business. The company will hire 4 to 6 people in its Tokyo office.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align:justify;\">He further added that the entry of more institutions and institutional projects coming into the crypto sector despite the market rout gives him \u201cconfidence.\u201d Investment management firms like BlackRock, and other financial institutions have recently entered the market bull run.<\/p>\n<p style=\"text-align:justify;\">\u201cThe future is brighter but it may take longer,\u201d he added.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/nomuras-crypto-arm-might-take-longer-time-turn-profitable-after-market-rout-ceo.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as the company is still grappling to recover from the sector\u2019s turmoil. Laser Digital had previously forecasted to make profits by 2024. However, in an interview with Bloomberg, the company\u2019s CEO Jez [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-58371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=58371\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=58371\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-08T08:45:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-08T08:45:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/nomura.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"320\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58371#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58371\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO\",\"datePublished\":\"2023-09-08T08:45:48+00:00\",\"dateModified\":\"2023-09-08T08:45:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58371\"},\"wordCount\":354,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=58371#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58371\",\"url\":\"https:\/\/ifintechworld.com\/?p=58371\",\"name\":\"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-08T08:45:48+00:00\",\"dateModified\":\"2023-09-08T08:45:50+00:00\",\"description\":\"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58371#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=58371\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58371#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld","description":"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=58371","og_locale":"en_US","og_type":"article","og_title":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld","og_description":"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as","og_url":"https:\/\/ifintechworld.com\/?p=58371","og_site_name":"iFintechWorld","article_published_time":"2023-09-08T08:45:48+00:00","article_modified_time":"2023-09-08T08:45:50+00:00","og_image":[{"width":480,"height":320,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/nomura.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=58371#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=58371"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO","datePublished":"2023-09-08T08:45:48+00:00","dateModified":"2023-09-08T08:45:50+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=58371"},"wordCount":354,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=58371#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=58371","url":"https:\/\/ifintechworld.com\/?p=58371","name":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-08T08:45:48+00:00","dateModified":"2023-09-08T08:45:50+00:00","description":"Laser Digital, the digital asset subsidiary of the Japanese financial services giant Nomura, might take a longer time to turn profitable than expected, as","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=58371#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=58371"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=58371#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Nomura\u2019s Crypto Arm Might Take Longer Time to Turn Profitable After Market Rout: CEO"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58371"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58371\/revisions"}],"predecessor-version":[{"id":58373,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58371\/revisions\/58373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/58372"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}