The charm of the cryptocurrency has attracted institutional investors. Especially those who previously refrained from large investments in digital assets due to security problems and lack of convenient ready-made solutions. However, some firms felt both the demand and business opportunity, and began to provide custody services for institutional investors.
May 15, 2018 Japanese IT-giant Nomura published a paper in which it disclosed its plans to launch a project to ensure the safe storage of digital assets belonging to institutional investors. A project called Komainu — business enterprise which combines experience in Nomura asset management, banking, trade, and also provides the infrastructure to create a reliable system for storing digital assets.
The company was established with the participation of three companies – Nomura Corporation, a manufacturer of hardware wallet Ledger and parent company CoinShares, Global Advisors. The demand for escrow services has soared, as evidenced by a recent Thomson Reuters survey. The study revealed that 20% of 400 surveyed financial companies considering entry into the trade cryptocurrency assets within 12 months. This means that every fifth company plans to establish direct contact with cryptocurrencies in 2018.
Specialist in digital technologies Nomura mohidin of Jez (Jez Mohideen) said:
«Global investment managers have long held back from full participation in the markets of digital assets as they are restricted to operating and regulatory risks. Our new partnership will set the required standards that will provide reassurance for investors and provides tools and products enabling better integration with more traditional investment instruments such as funds of joint investment».
According to Mohidin, the company will ensure a reliable and working infrastructure for the traditional industry of asset management. In addition, they will allow investors «to implement a coherent set of standards of best practices in their enterprises».
Co-founder of Global Advisors Jean-Marie Mognetti (Jean-Marie Mognetti) said that his company was looking for a reliable solution for storage since the inception of the company in 2012. Mognetti added:
«After six years of research and collaboration with our partner, the administration and its controller we have made progress».