Laser Digital Invests in Webn to Bring Crypto Services to Financial Institutions
Laser Digital, the crypto subsidiary of Nomura, has made an investment in Webn, an incubator backed by Alan Howard, in order to expand cryptocurrency-related services for established financial institutions. Jez Mohideen, CEO of Laser Digital, will join the board of Webn as a non-executive director. The size of the investment has not been disclosed.
Key points:
– Webn, established in late 2021, has incubated several web3 businesses, including Geometry, Trufin, and Twinstake.
– Webn aims to incubate startups focused on bringing crypto technologies to traditional financial services.
– Webn Group, with a team of 25, seeks to bridge the gap between large financial institutions and the web3 domain.
– Olivier Dang, head of ventures at Laser Digital, notes an increasing interest from institutions in asset tokenization.
– Webn sets a realistic target of incubating and building two to three new businesses every calendar year.
Hot Take
The investment by Laser Digital in Webn demonstrates the growing interest of established financial institutions in crypto-related services. By partnering with an incubator like Webn, Laser Digital can leverage their expertise and expand their offerings in the crypto space. This investment also highlights the trend of asset tokenization, with institutions seeking to explore new opportunities beyond just bitcoin and ether. The collaboration between Laser Digital and Webn has the potential to bridge the gap between traditional financial services and the emerging web3 domain.
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