Nomura, NRI Sign MoU For Blockchain Joint Venture

Blockchain, News | June 18, 2019 By:

Nomura Holdings has signed a memorandum of understanding (MoU) with Nomura Research Institute (NRI) to establish a blockchain joint venture company.

Founded in 1925, Nomura Holdings is a financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking), and Merchant Banking.

NRI is a provider of system solutions and consulting services, including management consulting, system integration, and IT management and solutions for financial, manufacturing, retail and service industries. Clients partner with NRI to expand businesses, design corporate structures and create new business strategies. NRI has about 13,000 employees in more than 60 offices globally, including New York, London, Tokyo, Hong Kong, Singapore, and Australia.

The joint venture company, which is expected to be established in August, will make use of blockchain technology to develop a platform for exchanging securities and other rights. Nomura will have a 66% stake in the joint venture whereas NRI will hold 34% (subject to further discussion between the two companies).

“To meet the need for more sophisticated and agile services in the securities trading business, the two companies aim to build a new platform to support corporate clients with the issuance and distribution of securities and other rights,” the companies said.

The two companies have already collaborated in the past to develop businesses that make use of the latest technologies. In 2015, they tested the use of blockchain technology in managing equities related information.