Nomura Holdings forms blockchain focussed partnership with LVC
Nomura Holdings, Japan’s oldest brokerage has formed a blockchain aimed partnership with the operator of the country’s most popular messenger, according to coindesk.
Nomura Holdings, the parent company of Nomura Securities, said it made an investment in LVC, a subsidiary of South Korean-controlled Line, following an agreement signed on Sept. 24.
With terms not disclosed, Nomura said that the venture will be developing financial services utilising blockchain technology.
The partnership will make use of Line’s user base of 81 million in Japan and developed user experience and Nomura’s financial experience and expertise.
The release also mentions LVC’s Bitmax exchange, which went live on Sept. 17.
In January 2019, the companies announced that they were engaged in negotiations on the deal with a March target for final agreement.
The earlier disclosure mentions that LVC’s capital will be increased through a placement of new shares to Nomura.