Nomura’s Crypto Subsidiary Opens Japan Office

Hi NoRamp Community,

NoRamp released its second podcast episode Friday morning with the Upfluence Co-CEO & Co-Founder Vivien Garnès. Check it out on your preferred platform here.

If you like NoRamp daily, you’ll love The Phenom Update. Check it out if you’re interested in all things crypto trends.

Onto the news for the day:

Coinbase secures another license to operate internationally. Kucoin reserves dip. Nomura’s crypto subsidiary Laser Digital Opens Office in Japan.

Coinbase Secures License to Operate in Singapore:

• Coinbase has obtained the Major Payment Institution (MPI) license from The Monetary Authority of Singapore (MAS), following its In-Principle Approval (IPA) last year, allowing it to enhance services for individual and institutional clients in Singapore.

• The crypto exchange has been actively involved in Singapore through initiatives like investments via Coinbase Ventures, partnerships with regional entities such as Nansen.ai, and introducing features like PayNow and SingPass integration.

• Amid challenges in the U.S. regulatory scene and facing a lawsuit from the U.S. SEC, Coinbase is pursuing global expansion, securing approval from the Bermuda Monetary Authority to offer perpetual futures to certain non-U.S. customers.

KuCoin Reserves Dip as Outflows Reach $118 Million:

• KuCoin cryptocurrency exchange witnessed a decline in key asset reserves, with bitcoin, ether, and USDT dropping 3-4% since August due to user withdrawals amid market uncertainty.

• Analytics provider Defillama recorded net outflows of $118 million from KuCoin in the past month, indicating diminishing customer confidence influenced by market volatility and changing regulations.

• Given the current scenario, exchanges like KuCoin need to bolster confidence, with regular reserve certificates being a potential strategy to showcase financial health.

Nomura’s Crypto Subsidiary Opens Japan Office:

• Laser Digital, Nomura's digital asset subsidiary, has launched a new office in Tokyo, with former executive director Hideaki Kudo heading the branch. Kudo's extensive experience includes working on security token development and serving as a senior portfolio manager for Nomura.

• This expansion in the Far East follows Laser Digital's recent announcement of securing an in-principal license to operate in Dubai, given by the Abu Dhabi Global Market for providing broker-dealer and asset/fund management services for both virtual and traditional assets.

• Last month, Laser Digital unveiled the Bitcoin Adoption Fund for institutional clients, marking the start of a series of digital asset investment products. The fund will utilize Komainu, a collaboration between Nomura, Ledger, and CoinShares, to safeguard client assets.

NoRamp

NoRamp is the fastest p2p NFT credit card solution on the market. Join our discord, dive into our our docs, or check out our website to learn more.

If you’ve read this far and haven’t yet subscribed, you probably should here.

- NoRamp Team